Kymera Therapeutics (NASDAQ:KYMR) Stock Price Down 13.9% Following Weak Earnings

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) dropped 13.9% during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $31.47 and last traded at $30.46. Approximately 928,308 shares traded hands during trading, an increase of 84% from the average daily volume of 504,309 shares. The stock had previously closed at $35.36.

The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.12). The business had revenue of $7.39 million for the quarter, compared to analyst estimates of $14.81 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%.

Analysts Set New Price Targets

KYMR has been the topic of a number of recent analyst reports. HC Wainwright boosted their price target on shares of Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday. Guggenheim boosted their price target on shares of Kymera Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. UBS Group dropped their price target on shares of Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Leerink Partners restated an “outperform” rating and issued a $60.00 price target on shares of Kymera Therapeutics in a research report on Friday, December 27th. Finally, Wells Fargo & Company upgraded shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $38.00 to $57.00 in a research report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.69.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, insider Ellen Chiniara sold 3,129 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $41.75, for a total transaction of $130,635.75. Following the completion of the sale, the insider now owns 54,826 shares in the company, valued at approximately $2,288,985.50. The trade was a 5.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.82% of the stock is currently owned by company insiders.

Institutional Trading of Kymera Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of KYMR. Mirae Asset Global Investments Co. Ltd. increased its stake in Kymera Therapeutics by 27.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock valued at $114,000 after purchasing an additional 504 shares in the last quarter. Integrated Advisors Network LLC purchased a new position in Kymera Therapeutics during the 3rd quarter worth $294,000. Harbor Capital Advisors Inc. boosted its holdings in Kymera Therapeutics by 30.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 40,303 shares of the company’s stock worth $1,908,000 after acquiring an additional 9,292 shares during the last quarter. Natixis Advisors LLC purchased a new position in Kymera Therapeutics during the 3rd quarter worth $681,000. Finally, Thrivent Financial for Lutherans purchased a new position in Kymera Therapeutics during the 3rd quarter worth $313,000.

Kymera Therapeutics Trading Up 3.6 %

The stock has a market capitalization of $2.03 billion, a PE ratio of -13.40 and a beta of 2.18. The stock’s fifty day simple moving average is $39.02 and its 200-day simple moving average is $43.74.

About Kymera Therapeutics

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.