Insider Selling: Kymera Therapeutics (NASDAQ:KYMR) CEO Sells 30,000 Shares of Company Stock

Key Points

• Kymera Therapeutics CEO Nello Mainolfi sold 30,000 shares at an average price of $113.80, generating $3.41 million. He retained 666,568 shares worth approximately $75.9 million, a 4.31% reduction in ownership.
• Kymera reported stronger-than-expected quarterly results, with a loss of $0.62 per share versus the expected $0.71 loss and revenue of $65 million, up 465.2% year over year.
• Analysts remain broadly bullish, assigning the stock a “Moderate Buy” consensus rating and an average price target of $133.21, compared with its reported trading price of $110.12.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $113.80, for a total transaction of $3,414,000.00. Following the completion of the sale, the chief executive officer owned 666,568 shares in the company, valued at $75,855,438.40. This represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nello Mainolfi also recently made the following trade(s):

• On Tuesday, July 7th, Nello Mainolfi sold 50,000 shares of Kymera Therapeutics stock. The shares were sold at an average price of $119.00, for a total transaction of $5,950,000.00.

Kymera Therapeutics Stock Performance

NASDAQ:KYMR traded down $1.67 during trading hours on Thursday, hitting $110.12. The stock had a trading volume of 1,051,064 shares, compared to its average volume of 740,223. Kymera Therapeutics, Inc. has a one year low of $54.35 and a one year high of $130.05. The company has a market cap of $9.16 billion, a price-to-earnings ratio of -33.99 and a beta of 1.96. The business's 50 day moving average is $114.69 and its 200-day moving average is $98.65.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, topping analysts' consensus estimates of ($0.71) by $0.09. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The company had revenue of $65.00 million for the quarter, compared to analysts' expectations of $32.78 million. During the same period last year, the firm posted ($0.95) earnings per share. The business's quarterly revenue was up 465.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Kymera Therapeutics, Inc. will post -3.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KYMR. GAMMA Investing LLC raised its stake in shares of Kymera Therapeutics by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $52,000 after purchasing an additional 98 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Kymera Therapeutics by 56.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,285 shares of the company's stock valued at $107,000 after buying an additional 463 shares in the last quarter. Nykredit A S bought a new position in shares of Kymera Therapeutics in the second quarter valued at $207,000. DMC Group LLC acquired a new position in Kymera Therapeutics during the second quarter worth $229,000. Finally, Beacon Pointe Advisors LLC acquired a new position in Kymera Therapeutics during the second quarter worth $264,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $135.00 price objective on shares of Kymera Therapeutics in a research report on Thursday, August 6th. Piper Sandler reiterated an "overweight" rating and issued a $140.00 price objective on shares of Kymera Therapeutics in a report on Wednesday, September 23rd. Bank of America boosted their price objective on shares of Kymera Therapeutics from $123.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday, September 14th. Barclays increased their target price on shares of Kymera Therapeutics from $133.00 to $139.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Truist Financial raised their target price on shares of Kymera Therapeutics from $116.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $133.21.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively remove disease-causing proteins from cells. The company uses its targeted protein degradation platform, including molecular glue degraders, to address proteins that may be difficult to inhibit with conventional small-molecule drugs.

Kymera's research and development activities center on immune-inflammatory diseases and cancer. Its pipeline has included investigational degraders designed to target proteins such as interleukin-1 receptor-associated kinase 4 (IRAK4) and signal transducer and activator of transcription 6 (STAT6), with the goal of treating conditions involving abnormal immune signaling.

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