Kymera Therapeutics (NASDAQ:KYMR) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Kymera Therapeutics (NASDAQ:KYMR) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other brokerages have also issued reports on KYMR. Loop Capital set a $132.00 price objective on Kymera Therapeutics in a report on Thursday. Truist Financial restated a “buy” rating and issued a $150.00 target price (up from $136.00) on shares of Kymera Therapeutics in a research report on Friday. Morgan Stanley lifted their target price on Kymera Therapeutics from $135.00 to $146.00 and gave the company an “overweight” rating in a research note on Tuesday, October 27th. Brookline Capital Markets reiterated a “buy” rating on shares of Kymera Therapeutics in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Kymera Therapeutics in a research note on Thursday, July 30th. They issued a “hold” rating and a $120.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $139.16.

Kymera Therapeutics Price Performance

Shares of Kymera Therapeutics stock opened at $127.51 on Friday. Kymera Therapeutics has a 1 year low of $55.66 and a 1 year high of $130.05. The company has a market capitalization of $10.60 billion, a P/E ratio of -35.22 and a beta of 1.98. The business has a 50 day moving average price of $115.08 and a 200 day moving average price of $96.61.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, October 29th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.06). The firm had revenue of $1.35 million during the quarter, compared to analyst estimates of $3.28 million. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. Kymera Therapeutics’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.94) EPS. As a group, research analysts expect that Kymera Therapeutics will post -3.90 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Kymera Therapeutics

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in 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 period. IFP Advisors Inc increased its stake in shares of Kymera Therapeutics by 236.5% during the third quarter. IFP Advisors Inc now owns 737 shares of the company’s stock worth $82,000 after purchasing an additional 518 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Kymera Therapeutics by 56.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,285 shares of the company’s stock worth $107,000 after purchasing an additional 463 shares during the period. Empowered Funds LLC acquired a new stake in Kymera Therapeutics during the 1st quarter worth approximately $203,000. Finally, Nykredit A S acquired a new stake in Kymera Therapeutics during the 2nd quarter worth approximately $207,000.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins through targeted protein degradation. Its approach is designed to use the cell’s natural protein-disposal system to remove proteins that may be difficult to address with conventional drug modalities.

The company’s research and development programs have targeted a range of disease areas, including immune-mediated and inflammatory conditions, cancer, and other serious illnesses.