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

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $45.98, but opened at $44.75. Kymera Therapeutics shares last traded at $44.75, with a volume of 4,250 shares.

Analyst Ratings Changes

Several analysts have issued reports on KYMR shares. Truist Financial reaffirmed a “buy” rating and issued a $53.00 price objective (down previously from $54.00) on shares of Kymera Therapeutics in a research report on Friday, November 1st. Guggenheim raised their price target on shares of Kymera Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, November 1st. Leerink Partnrs upgraded shares of Kymera Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Stephens started coverage on Kymera Therapeutics in a research report on Monday, November 18th. They issued an “overweight” rating and a $65.00 target price on the stock. Finally, UBS Group cut their target price on shares of Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Four equities 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.13.

Kymera Therapeutics Stock Up 1.9 %

The company has a 50 day moving average price of $46.88 and a 200-day moving average price of $42.11. The company has a market cap of $3.03 billion, a P/E ratio of -20.03 and a beta of 2.21.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.01. The company had revenue of $3.74 million for the quarter, compared to the consensus estimate of $10.34 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. Kymera Therapeutics’s revenue was down 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.90) EPS. On average, research analysts expect that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In other news, Director Pamela Esposito sold 13,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total value of $651,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of KYMR. Values First Advisors Inc. bought a new stake in shares of Kymera Therapeutics in the 3rd quarter worth approximately $61,000. Quarry LP bought a new position in shares of Kymera Therapeutics in the third quarter valued at $95,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kymera Therapeutics by 27.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock valued at $114,000 after acquiring an additional 504 shares during the last quarter. Comerica Bank boosted its stake in shares of Kymera Therapeutics by 13.7% during the 1st quarter. Comerica Bank now owns 3,324 shares of the company’s stock worth $134,000 after acquiring an additional 400 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of Kymera Therapeutics in the 2nd quarter worth $139,000.

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.