Kymera Therapeutics (NASDAQ:KYMR) Stock Falls 5% – Here’s What Happened

Kymera Therapeutics, Inc. (NASDAQ:KYMR) fell 5% on Tuesday. The company traded as low as $106.36 and last traded at $104.3460. Approximately 62,536 shares were traded during trading, a decline of 92% from the average daily volume of 736,997 shares. The stock had previously closed at $109.85.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KYMR. Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective on shares of Kymera Therapeutics in a research report on Wednesday, September 23rd. Loop Capital set a $97.00 target price on Kymera Therapeutics in a research report on Monday, June 8th. Citigroup increased their price target on Kymera Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus raised their price target on Kymera Therapeutics from $132.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Finally, Oppenheimer restated an “outperform” rating and set a $125.00 price target on shares of Kymera Therapeutics in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.46.

Kymera Therapeutics Trading Down 4.7%

The business’s 50-day simple moving average is $114.62 and its 200-day simple moving average is $99.27. The company has a market capitalization of $8.71 billion, a PE ratio of -32.23 and a beta of 1.98.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.09. The company had revenue of $65.00 million for the quarter, compared to the consensus estimate of $32.78 million. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The firm’s revenue for the quarter was up 465.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.95) EPS. Sell-side analysts forecast that Kymera Therapeutics, Inc. will post -3.83 EPS for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, insider Brian Adams sold 6,371 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $116.83, for a total value of $744,323.93. Following the completion of the transaction, the insider owned 50,254 shares in the company, valued at approximately $5,871,174.82. This represents a 11.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $113.80, for a total transaction of $3,414,000.00. Following the sale, the chief executive officer directly owned 666,568 shares in the company, valued at approximately $75,855,438.40. The trade was a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kymera Therapeutics

A number of hedge funds have recently bought and sold shares of KYMR. GAMMA Investing LLC raised its position in shares of Kymera Therapeutics by 27.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $52,000 after buying an additional 98 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Kymera Therapeutics by 56.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,285 shares of the company’s stock valued at $107,000 after acquiring an additional 463 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Kymera Therapeutics in the fourth quarter valued at about $198,000. Empowered Funds LLC purchased a new stake in shares of Kymera Therapeutics in the first quarter valued at about $203,000. Finally, Nykredit A S acquired a new stake in Kymera Therapeutics during the second quarter worth about $207,000.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively remove disease-causing proteins from cells. The company uses its targeted protein degradation platform, including molecular glue degraders, to address proteins that may be difficult to inhibit with conventional small-molecule drugs.

Kymera’s research and development activities center on immune-inflammatory diseases and cancer. Its pipeline has included investigational degraders designed to target proteins such as interleukin-1 receptor-associated kinase 4 (IRAK4) and signal transducer and activator of transcription 6 (STAT6), with the goal of treating conditions involving abnormal immune signaling.