Kymera Therapeutics (NASDAQ:KYMR) Stock Price Down 7% – What’s Next?

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s stock price dropped 7% during mid-day trading on Monday . The stock traded as low as $111.24 and last traded at $111.0490. 140,821 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 759,974 shares. The stock had previously closed at $119.35.

Analyst Ratings Changes

Several research firms recently weighed in on KYMR. Truist Financial boosted their price objective on Kymera Therapeutics from $116.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kymera Therapeutics in a report on Tuesday, April 21st. Loop Capital set a $97.00 price target on Kymera Therapeutics in a research report on Monday, June 8th. Morgan Stanley reiterated an “overweight” rating and set a $119.00 price target on shares of Kymera Therapeutics in a report on Thursday, April 30th. Finally, BTIG Research reissued a “buy” rating and issued a $134.00 price objective on shares of Kymera Therapeutics in a research report on Thursday, June 25th. Twenty research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Kymera Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $121.73.

Kymera Therapeutics Trading Up 1.5%

The firm’s fifty day moving average price is $91.78 and its 200-day moving average price is $84.71. The company has a market cap of $9.22 billion, a P/E ratio of -31.39 and a beta of 1.95.

Kymera Therapeutics (NASDAQ:KYMR) last released its earnings results on Thursday, April 30th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The business had revenue of $34.37 million during the quarter, compared to analysts’ expectations of $8.27 million. During the same quarter last year, the company earned ($0.82) earnings per share. The firm’s revenue was up 55.5% on a year-over-year basis. As a group, research analysts forecast that Kymera Therapeutics, Inc. will post -3.28 earnings per share for the current fiscal year.

Insider Transactions at Kymera Therapeutics

In other news, Director Bruce Booth sold 467,878 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $110.29, for a total transaction of $51,602,264.62. Following the sale, the director directly owned 472,267 shares in the company, valued at approximately $52,086,327.43. The trade was a 49.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nello Mainolfi sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $115.29, for a total value of $9,223,200.00. Following the sale, the chief executive officer owned 666,568 shares in the company, valued at approximately $76,848,624.72. This represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,644,113 shares of company stock worth $390,820,176. Insiders own 15.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings 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 purchasing an additional 98 shares in the last quarter. US Bancorp DE raised its position in Kymera Therapeutics by 9.8% in the 3rd quarter. US Bancorp DE now owns 1,865 shares of the company’s stock worth $106,000 after purchasing an additional 166 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in Kymera Therapeutics by 3.6% during the 1st quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company’s stock worth $565,000 after buying an additional 235 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Kymera Therapeutics by 7.5% during the 1st quarter. Cetera Investment Advisers now owns 3,602 shares of the company’s stock worth $300,000 after buying an additional 252 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in Kymera Therapeutics by 36.9% in the 4th quarter. Larson Financial Group LLC now owns 1,064 shares of the company’s stock valued at $83,000 after buying an additional 287 shares during the last quarter.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.