Kymera Therapeutics (NASDAQ:KYMR) Stock Price Down 13.9% After Earnings Miss

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) dropped 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. Approximately 928,308 shares were traded 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts have recently weighed in on KYMR shares. Leerink Partners reiterated an “outperform” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a report on Friday, December 27th. BTIG Research initiated coverage on shares of Kymera Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $60.00 price objective for the company. Morgan Stanley increased their price objective on Kymera Therapeutics from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. 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 report on Monday, November 4th. Finally, BMO Capital Markets started coverage on shares of Kymera Therapeutics in a research report on Friday, December 6th. They issued a “market perform” rating and a $55.00 price target for the company. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Kymera Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.64.

Insiders Place Their Bets

In related news, insider Ellen Chiniara sold 3,129 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $41.75, for a total transaction of $130,635.75. Following the sale, the insider now owns 54,826 shares in the company, valued at approximately $2,288,985.50. This represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KYMR. Blue Trust Inc. boosted its holdings 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 during the period. Summit Investment Advisors Inc. boosted its stake in Kymera Therapeutics by 9.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,912 shares of the company’s stock valued at $198,000 after purchasing an additional 406 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Kymera Therapeutics by 27.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock valued at $114,000 after buying an additional 504 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Kymera Therapeutics by 1.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 40,987 shares of the company’s stock worth $1,649,000 after buying an additional 684 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Kymera Therapeutics by 53.8% during the fourth quarter. KBC Group NV now owns 2,151 shares of the company’s stock worth $87,000 after buying an additional 752 shares in the last quarter.

Kymera Therapeutics Price Performance

The stock’s 50-day moving average price is $39.39 and its 200-day moving average price is $43.91. The company has a market cap of $1.94 billion, a P/E ratio of -12.73 and a beta of 2.18.

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.