Kymera Therapeutics (NASDAQ:KYMR) Shares Down 6.1% - Here's What Happened

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) shares traded down 6.1% during trading on Tuesday . The company traded as low as $26.17 and last traded at $25.71. 75,375 shares were traded during trading, a decline of 86% from the average session volume of 522,388 shares. The stock had previously closed at $27.37.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Leerink Partners reissued an "outperform" rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research report on Friday, December 27th. Stephens restated an "overweight" rating and set a $60.00 price target on shares of Kymera Therapeutics in a research note on Tuesday, January 21st. HC Wainwright upped their price objective on Kymera Therapeutics from $54.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, February 28th. BTIG Research started coverage on Kymera Therapeutics in a research report on Tuesday, December 10th. They issued a "buy" rating and a $60.00 target price for the company. Finally, Citigroup began coverage on Kymera Therapeutics in a research report on Thursday, March 13th. They set a "buy" rating and a $52.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.36.

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Kymera Therapeutics Price Performance

The company has a market cap of $1.43 billion, a PE ratio of -9.43 and a beta of 2.22. The firm's 50 day moving average is $34.02 and its 200 day moving average is $41.02.

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

Insider Activity

In other Kymera Therapeutics news, COO Jeremy G. Chadwick sold 1,383 shares of Kymera Therapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.45, for a total transaction 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 $2,064,510. The trade was a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bruce N. Jacobs sold 7,035 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $214,215.75. Following the completion of the transaction, the chief financial officer now owns 201,886 shares of the company's stock, valued at $6,147,428.70. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,788 shares of company stock worth $455,202. 15.82% of the stock is currently owned by insiders.

Institutional Trading of Kymera Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Kymera Therapeutics by 74.8% during the fourth quarter. Blue Trust Inc. now owns 631 shares of the company's stock worth $25,000 after acquiring an additional 270 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Kymera Therapeutics by 9.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,912 shares of the company's stock worth $198,000 after purchasing an additional 406 shares during the period. Harbor Capital Advisors Inc. raised its position in Kymera Therapeutics by 1.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 40,987 shares of the company's stock worth $1,649,000 after purchasing an additional 684 shares during the period. KBC Group NV lifted its stake in Kymera Therapeutics by 53.8% in the fourth quarter. KBC Group NV now owns 2,151 shares of the company's stock worth $87,000 after purchasing an additional 752 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kymera Therapeutics by 8.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,289 shares of the company's stock valued at $534,000 after buying an additional 915 shares during the period.

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.