Kymera Therapeutics (NASDAQ:KYMR) Stock Price Down 13.9% on Disappointing Earnings

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) were down 13.9% during trading on Thursday following a dissappointing earnings announcement. The stock 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) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.12). Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group reduced their price objective on Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Morgan Stanley raised their price objective on shares of Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. BMO Capital Markets initiated coverage on Kymera Therapeutics in a research note on Friday, December 6th. They set a “market perform” rating and a $55.00 price target for the company. Stephens restated an “overweight” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research report on Tuesday, January 21st. Finally, Truist Financial reaffirmed a “buy” rating and set a $53.00 price objective (down from $54.00) on shares of Kymera Therapeutics in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.64.

Insider Transactions at Kymera Therapeutics

In related 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 value of $130,635.75. Following the completion of the sale, the insider now owns 54,826 shares of the company’s stock, valued at approximately $2,288,985.50. The trade was a 5.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new position in Kymera Therapeutics in the fourth quarter valued at approximately $55,000. Woodline Partners LP increased its position in shares of Kymera Therapeutics by 2.3% during the fourth quarter. Woodline Partners LP now owns 537,428 shares of the company’s stock worth $21,621,000 after acquiring an additional 12,334 shares during the period. Vident Advisory LLC purchased a new stake in Kymera Therapeutics during the 4th quarter worth about $236,000. State of Wyoming acquired a new stake in Kymera Therapeutics in the fourth quarter valued at approximately $45,000. Finally, ProShare Advisors LLC lifted its position in shares of Kymera Therapeutics by 33.3% during the 4th quarter. ProShare Advisors LLC now owns 16,293 shares of the company’s stock worth $655,000 after purchasing an additional 4,071 shares during the last quarter.

Kymera Therapeutics Price Performance

The stock has a market cap of $1.94 billion, a PE ratio of -12.73 and a beta of 2.18. The firm has a 50 day moving average of $39.39 and a two-hundred day moving average of $43.91.

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.