Kymera Therapeutics (NASDAQ:KYMR) Shares Down 3.4% – Here’s What Happened

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares were down 3.4% on Thursday . The stock traded as low as $78.99 and last traded at $79.2750. Approximately 316,391 shares changed hands during trading, a decline of 61% from the average daily volume of 802,531 shares. The stock had previously closed at $82.07.

Wall Street Analysts Forecast Growth

KYMR has been the subject of several recent research reports. Mizuho raised their price target on shares of Kymera Therapeutics from $81.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Leerink Partners lifted their target price on Kymera Therapeutics from $70.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, December 8th. HC Wainwright boosted their target price on Kymera Therapeutics from $84.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. upped their target price on shares of Kymera Therapeutics from $70.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Finally, Stephens raised their target price on shares of Kymera Therapeutics from $65.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Kymera Therapeutics has an average rating of “Buy” and a consensus price target of $114.45.

Kymera Therapeutics Stock Down 4.6%

The company has a market cap of $5.64 billion, a price-to-earnings ratio of -21.77 and a beta of 2.28. The business’s fifty day simple moving average is $66.40 and its two-hundred day simple moving average is $53.16.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Tuesday, November 4th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.19). The company had revenue of $2.76 million during the quarter, compared to analysts’ expectations of $23.15 million. Kymera Therapeutics had a negative net margin of 674.81% and a negative return on equity of 32.92%. Sell-side analysts predict that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Nello Mainolfi sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $89.17, for a total transaction of $8,917,000.00. Following the transaction, the chief executive officer directly owned 660,482 shares in the company, valued at approximately $58,895,179.94. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey W. Albers sold 5,000 shares of Kymera Therapeutics stock in a transaction on Monday, December 8th. The shares were sold at an average price of $89.76, for a total transaction of $448,800.00. The SEC filing for this sale provides additional information. In the last three months, insiders sold 488,585 shares of company stock valued at $41,408,199. 16.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several hedge funds have recently made changes to their positions in KYMR. Hudson Bay Capital Management LP grew its holdings in shares of Kymera Therapeutics by 362.7% during the third quarter. Hudson Bay Capital Management LP now owns 23,134 shares of the company’s stock worth $1,309,000 after buying an additional 18,134 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Kymera Therapeutics during the 3rd quarter worth approximately $304,000. Dark Forest Capital Management LP grew its stake in shares of Kymera Therapeutics by 19.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 31,052 shares of the company’s stock valued at $1,758,000 after purchasing an additional 5,102 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Kymera Therapeutics by 1,130.2% in the third quarter. Alyeska Investment Group L.P. now owns 615,091 shares of the company’s stock valued at $34,814,000 after purchasing an additional 565,091 shares during the period. Finally, Verition Fund Management LLC raised its stake in shares of Kymera Therapeutics by 270.9% during the third quarter. Verition Fund Management LLC now owns 31,471 shares of the company’s stock worth $1,781,000 after purchasing an additional 22,987 shares during 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.