Kymera Therapeutics (NASDAQ:KYMR) Shares Down 4.1% Following Analyst Downgrade

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares were down 4.1% during mid-day trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $57.00 to $53.00. Wells Fargo & Company currently has an overweight rating on the stock. Kymera Therapeutics traded as low as $44.00 and last traded at $44.57. Approximately 258,335 shares were traded during trading, a decline of 58% from the average daily volume of 612,354 shares. The stock had previously closed at $46.47.

Several other brokerages have also recently weighed in on KYMR. UBS Group dropped their price objective on Kymera Therapeutics from $72.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Stifel Nicolaus assumed coverage on shares of Kymera Therapeutics in a report on Tuesday, May 20th. They issued a “buy” rating and a $55.00 price objective on the stock. Citigroup started coverage on shares of Kymera Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective on the stock. B. Riley upgraded shares of Kymera Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $38.00 to $60.00 in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. increased their price target on Kymera Therapeutics from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Kymera Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $59.78.

Insiders Place Their Bets

In other Kymera Therapeutics news, Director Elena Ridloff sold 12,000 shares of Kymera Therapeutics stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $46.10, for a total value of $553,200.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 6,349 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total transaction of $311,101.00. The disclosure for this sale can be found here. Insiders sold 48,349 shares of company stock worth $2,334,301 over the last ninety days. 16.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Kymera Therapeutics

A number of institutional investors have recently modified their holdings of the company. KBC Group NV boosted its stake in shares of Kymera Therapeutics by 15.2% during the 1st quarter. KBC Group NV now owns 2,479 shares of the company’s stock worth $68,000 after buying an additional 328 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings 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 buying an additional 406 shares in the last quarter. Comerica Bank grew its stake in shares of Kymera Therapeutics by 3.6% in the first quarter. Comerica Bank now owns 21,374 shares of the company’s stock valued at $585,000 after acquiring an additional 743 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Kymera Therapeutics by 6.1% during the 1st quarter. Hsbc Holdings PLC now owns 18,547 shares of the company’s stock worth $508,000 after purchasing an additional 1,064 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Kymera Therapeutics during the fourth quarter worth approximately $45,000.

Kymera Therapeutics Trading Down 1.6%

The stock has a market cap of $2.98 billion, a P/E ratio of -14.75 and a beta of 2.07. The stock has a 50 day simple moving average of $36.72 and a 200 day simple moving average of $35.87.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.10. The company had revenue of $22.10 million during the quarter, compared to the consensus estimate of $11.38 million. Kymera Therapeutics had a negative net margin of 409.07% and a negative return on equity of 30.11%. The firm’s quarterly revenue was up 114.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.69) EPS. Equities analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

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.