Kymera Therapeutics (NASDAQ:KYMR) Reaches New 52-Week Low After Earnings Miss

Kymera Therapeutics, Inc. (NASDAQ:KYMR) reached a new 52-week low during mid-day trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $29.22 and last traded at $29.98, with a volume of 1722609 shares trading hands. The stock had previously closed at $35.36.

The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The company had revenue of $7.39 million for the quarter, compared to the consensus estimate of $14.81 million.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $38.00 to $57.00 in a research note on Monday, December 2nd. Stephens reissued an “overweight” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a report on Tuesday, January 21st. UBS Group reduced their target price on shares of Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating for the company in a report on Monday, November 4th. BMO Capital Markets began coverage on shares of Kymera Therapeutics in a report on Friday, December 6th. They issued a “market perform” rating and a $55.00 target price for the company. Finally, Leerink Partners reissued an “outperform” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a report on Friday, December 27th. Three 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.62.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, insider Ellen Chiniara sold 3,129 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $41.75, for a total transaction of $130,635.75. Following the completion of the sale, the insider now directly owns 54,826 shares of the company’s stock, valued at $2,288,985.50. This trade represents a 5.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KYMR. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Kymera Therapeutics by 27.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock valued at $114,000 after purchasing an additional 504 shares in the last quarter. Integrated Advisors Network LLC purchased a new position in shares of Kymera Therapeutics in the third quarter valued at $294,000. Harbor Capital Advisors Inc. grew its holdings in shares of Kymera Therapeutics by 30.0% in the third quarter. Harbor Capital Advisors Inc. now owns 40,303 shares of the company’s stock valued at $1,908,000 after purchasing an additional 9,292 shares in the last quarter. Natixis Advisors LLC purchased a new position in shares of Kymera Therapeutics in the third quarter valued at $681,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Kymera Therapeutics in the third quarter valued at $313,000.

Kymera Therapeutics Stock Down 15.2 %

The business’s fifty day moving average is $39.21 and its two-hundred day moving average is $43.82. The stock has a market capitalization of $1.94 billion, a PE ratio of -12.81 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.