Kymera Therapeutics (NASDAQ:KYMR) Shares Down 6.9% – What’s Next?

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares dropped 6.9% on Wednesday . The company traded as low as $19.66 and last traded at $19.59. Approximately 312,285 shares changed hands during trading, a decline of 42% from the average daily volume of 537,310 shares. The stock had previously closed at $21.05.

Analyst Upgrades and Downgrades

KYMR has been the subject of a number of recent analyst reports. Citigroup began coverage on shares of Kymera Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $52.00 price target for the company. Stephens reissued an “overweight” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research report on Tuesday, January 21st. Leerink Partners restated an “outperform” rating and set a $60.00 price objective on shares of Kymera Therapeutics in a research note on Friday, December 27th. BTIG Research initiated coverage on Kymera Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $60.00 target price for the company. Finally, HC Wainwright raised their price target on Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.36.

Kymera Therapeutics Trading Up 14.2 %

The firm’s 50-day moving average is $32.88 and its 200 day moving average is $40.46. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -10.27 and a beta of 2.22.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The firm had revenue of $7.39 million during the quarter, compared to analyst estimates of $14.81 million. Analysts predict that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ellen Chiniara sold 2,241 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.45, for a total transaction of $68,238.45. Following the transaction, the insider now owns 80,085 shares of the company’s stock, valued at $2,438,588.25. This represents a 2.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeremy G. Chadwick sold 1,383 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $42,112.35. Following the completion of the sale, the chief operating officer now owns 67,800 shares of the company’s stock, valued at approximately $2,064,510. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,659 shares of company stock worth $324,567. Corporate insiders own 15.82% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Kymera Therapeutics by 74.8% in the 4th quarter. Blue Trust Inc. now owns 631 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares in the last quarter. State of Wyoming bought a new position in shares of Kymera Therapeutics in the fourth quarter valued at $45,000. GF Fund Management CO. LTD. acquired a new position in shares of Kymera Therapeutics during the fourth quarter valued at about $55,000. KBC Group NV increased its position in shares of Kymera Therapeutics by 53.8% during the fourth quarter. KBC Group NV now owns 2,151 shares of the company’s stock worth $87,000 after acquiring an additional 752 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Kymera Therapeutics by 3,851.5% in the 1st quarter. GAMMA Investing LLC now owns 6,678 shares of the company’s stock valued at $183,000 after acquiring an additional 6,509 shares in the last quarter.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc, a biopharmaceutical company, focuses on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system. It engages in developing IRAK4 program, which is in Phase II clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors.