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

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s stock price fell 13.9% during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $31.47 and last traded at $30.46. 928,308 shares changed hands during trading, an increase of 84% from the average session 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). The company had revenue of $7.39 million during the quarter, compared to the consensus estimate of $14.81 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%.

Analysts Set New Price Targets

A number of equities analysts recently commented on KYMR shares. Leerink Partners reaffirmed an “outperform” rating and set a $60.00 price target on shares of Kymera Therapeutics in a research report on Friday, December 27th. HC Wainwright raised 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. Morgan Stanley raised their price target on shares of Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Stephens reaffirmed an “overweight” rating and set a $60.00 price target 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 target (down from $54.00) on shares of Kymera Therapeutics in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Kymera Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.69.

Insider Activity

In other news, insider Ellen Chiniara sold 3,129 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 54,826 shares in the company, valued at approximately $2,288,985.50. This trade represents a 5.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kymera Therapeutics

A number of hedge funds have recently made changes to their positions in KYMR. Wellington Management Group LLP boosted its stake in shares of Kymera Therapeutics by 14.9% in the 4th quarter. Wellington Management Group LLP now owns 5,307,326 shares of the company’s stock valued at $213,514,000 after purchasing an additional 688,967 shares in the last quarter. Avoro Capital Advisors LLC boosted its stake in shares of Kymera Therapeutics by 14.4% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company’s stock valued at $207,184,000 after purchasing an additional 650,000 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in Kymera Therapeutics during the 4th quarter worth approximately $23,856,000. Boxer Capital Management LLC acquired a new stake in Kymera Therapeutics during the 4th quarter worth approximately $17,098,000. Finally, Jennison Associates LLC boosted its position in Kymera Therapeutics by 85.8% during the 3rd quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock worth $37,754,000 after buying an additional 368,394 shares during the period.

Kymera Therapeutics Trading Up 3.6 %

The firm’s 50-day moving average is $39.02 and its 200 day moving average is $43.74. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -13.40 and a beta of 2.18.

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.