Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Down – Here’s Why

Kymera Therapeutics, Inc. (NASDAQ:KYMRGet Free Report)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $47.67, but opened at $44.75. Kymera Therapeutics shares last traded at $46.18, with a volume of 55,106 shares.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price target on Kymera Therapeutics from $34.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Wells Fargo & Company upped their target price on Kymera Therapeutics from $30.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Leerink Partners reiterated an “outperform” rating and set a $60.00 target price on shares of Kymera Therapeutics in a report on Monday, September 9th. Oppenheimer upped their price target on Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Wolfe Research raised Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Kymera Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $49.00.

Check Out Our Latest Analysis on KYMR

Kymera Therapeutics Stock Down 2.7 %

The business has a 50-day moving average price of $47.06 and a 200-day moving average price of $40.53. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -19.70 and a beta of 2.21.

Kymera Therapeutics (NASDAQ:KYMRGet Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.10. The firm had revenue of $25.60 million for the quarter, compared to analyst estimates of $12.55 million. Kymera Therapeutics had a negative net margin of 178.27% and a negative return on equity of 28.88%. Kymera Therapeutics’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same period last year, the company posted ($0.67) EPS. On average, equities research analysts forecast that Kymera Therapeutics, Inc. will post -2.85 earnings per share for the current year.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.10, for a total transaction of $245,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Pamela Esposito sold 13,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total transaction of $651,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.10, for a total value of $245,500.00. The disclosure for this sale can be found here. 15.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in KYMR. Price T Rowe Associates Inc. MD grew its stake in shares of Kymera Therapeutics by 18.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,332,012 shares of the company’s stock worth $254,548,000 after purchasing an additional 996,300 shares in the last quarter. Vanguard Group Inc. boosted its position in Kymera Therapeutics by 19.2% during the 1st quarter. Vanguard Group Inc. now owns 4,767,050 shares of the company’s stock worth $191,635,000 after acquiring an additional 769,486 shares during the period. Avoro Capital Advisors LLC boosted its position in Kymera Therapeutics by 3.0% during the 1st quarter. Avoro Capital Advisors LLC now owns 3,888,888 shares of the company’s stock worth $156,333,000 after acquiring an additional 113,888 shares during the period. Artal Group S.A. boosted its position in Kymera Therapeutics by 19.6% during the 1st quarter. Artal Group S.A. now owns 3,027,135 shares of the company’s stock worth $121,691,000 after acquiring an additional 496,400 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Kymera Therapeutics during the 1st quarter valued at about $17,122,000.

Kymera Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

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