Kymera Therapeutics (NASDAQ:KYMR) Hits New 1-Year Low on Disappointing Earnings

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s share price reached a new 52-week low on Friday following a weaker than expected earnings announcement. The company 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 for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). The firm had revenue of $7.39 million for the quarter, compared to the consensus estimate of $14.81 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KYMR. Stephens reissued an “overweight” rating and set a $60.00 price target on shares of Kymera Therapeutics in a research report on Tuesday, January 21st. Guggenheim lifted their price target on shares of Kymera Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company raised shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $57.00 in a research report on Monday, December 2nd. Morgan Stanley lifted their price target on shares of Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $53.00 price objective (down from $54.00) on shares of Kymera Therapeutics in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.69.

Insiders Place Their Bets

In related news, insider Ellen Chiniara sold 3,129 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $41.75, for a total value of $130,635.75. Following the transaction, the insider now owns 54,826 shares in the company, valued at approximately $2,288,985.50. This represents a 5.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its holdings in Kymera Therapeutics by 11.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 453,377 shares of the company’s stock valued at $21,458,000 after purchasing an additional 47,507 shares during the period. Eventide Asset Management LLC boosted its holdings in Kymera Therapeutics by 9.9% in the 3rd quarter. Eventide Asset Management LLC now owns 507,902 shares of the company’s stock valued at $24,039,000 after purchasing an additional 45,803 shares during the period. Intech Investment Management LLC bought a new stake in Kymera Therapeutics in the 3rd quarter valued at about $650,000. JPMorgan Chase & Co. boosted its holdings in Kymera Therapeutics by 212.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 140,491 shares of the company’s stock valued at $6,649,000 after purchasing an additional 95,547 shares during the period. Finally, Natixis Advisors LLC bought a new stake in Kymera Therapeutics in the 3rd quarter valued at about $681,000.

Kymera Therapeutics Stock Performance

The stock has a market cap of $2.03 billion, a P/E ratio of -13.40 and a beta of 2.18. The stock’s fifty day simple moving average is $39.02 and its 200-day simple moving average is $43.74.

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.