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

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s stock price dropped 4.1% during 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 traded hands during mid-day trading, a decline of 58% from the average daily volume of 612,354 shares. The stock had previously closed at $46.47.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group set a $64.00 price target on shares of Kymera Therapeutics and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley upgraded Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $49.00 to $79.00 in a report on Tuesday, June 3rd. HC Wainwright reissued a “buy” rating and set a $60.00 price objective (up previously from $54.00) on shares of Kymera Therapeutics in a research report on Thursday. Bank of America raised Kymera Therapeutics from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Monday, June 2nd. Finally, UBS Group reduced their price target on shares of Kymera Therapeutics from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.78.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the completion of the transaction, the chief executive officer now owns 660,482 shares in the company, valued at $32,363,618. This trade represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey W. Albers sold 6,349 shares of Kymera Therapeutics 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 in the last quarter. 16.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KYMR. State of Wyoming bought a new stake in Kymera Therapeutics during the fourth quarter valued at approximately $45,000. GF Fund Management CO. LTD. bought a new stake in Kymera Therapeutics during the 4th quarter valued at $55,000. KBC Group NV boosted its holdings in shares of Kymera Therapeutics by 15.2% during the first quarter. KBC Group NV now owns 2,479 shares of the company’s stock worth $68,000 after purchasing an additional 328 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Kymera Therapeutics in the 1st quarter worth approximately $68,000. Finally, Advisors Asset Management Inc. boosted its holdings in Kymera Therapeutics by 81.7% in the first quarter. Advisors Asset Management Inc. now owns 4,959 shares of the company’s stock valued at $136,000 after acquiring an additional 2,230 shares in the last quarter.

Kymera Therapeutics Stock Down 1.6%

The firm’s 50-day moving average is $36.72 and its 200-day moving average is $35.87. The company has a market cap of $2.98 billion, a PE ratio of -14.75 and a beta of 2.07.

Kymera Therapeutics (NASDAQ:KYMR) last released its earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.10. Kymera Therapeutics had a negative return on equity of 30.11% and a negative net margin of 409.07%. The company had revenue of $22.10 million during the quarter, compared to analysts’ expectations of $11.38 million. During the same quarter last year, the business posted ($0.69) EPS. The firm’s revenue for the quarter was up 114.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal 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.