Kymera Therapeutics (NASDAQ:KYMR) Lowered to Sell Rating by Wall Street Zen

Key Points

• Kymera Therapeutics has been downgraded from "hold" to "sell" by Wall Street Zen amidst mixed analyst opinions, reflecting a consensus rating of "Buy" with a target price of $59.11.
• The company recently reported a loss per share of $0.95 for the quarter, missing analysts' estimates, and experienced a 55.1% year-over-year decline in revenue.
• Insider trading activity included a significant purchase of 317,167 shares by a director, indicating potential confidence in the company's future performance.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Several other analysts have also weighed in on KYMR. UBS Group cut their price objective on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. The Goldman Sachs Group raised Kymera Therapeutics to a "strong-buy" rating in a research report on Tuesday, July 15th. Morgan Stanley assumed coverage on Kymera Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $70.00 target price on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $53.00 target price (down from $56.00) on shares of Kymera Therapeutics in a research report on Friday, June 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $60.00 target price (up from $54.00) on shares of Kymera Therapeutics in a research report on Thursday, June 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Kymera Therapeutics has a consensus rating of "Buy" and a consensus target price of $59.11.

Kymera Therapeutics Price Performance

Shares of Kymera Therapeutics stock traded down $0.22 during trading on Friday, hitting $42.35. The stock had a trading volume of 466,565 shares, compared to its average volume of 641,862. The firm has a market cap of $3.03 billion, a P/E ratio of -12.20 and a beta of 2.18. The business has a fifty day moving average of $44.32 and a two-hundred day moving average of $36.56. Kymera Therapeutics has a fifty-two week low of $19.44 and a fifty-two week high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The firm had revenue of $11.48 million during the quarter, compared to analyst estimates of $17.37 million. Kymera Therapeutics had a negative net margin of 616.03% and a negative return on equity of 31.60%. The company's quarterly revenue was down 55.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.58) EPS. As a group, research analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity

In related news, Director Elena Ridloff sold 12,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total transaction of $553,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 655,500 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $44.00 per share, for a total transaction of $28,842,000.00. Following the completion of the transaction, the director directly owned 6,117,295 shares of the company's stock, valued at $269,160,980. This trade represents a 12.00% increase in their position. The disclosure for this purchase can be found here. Insiders sold 48,349 shares of company stock valued at $2,334,301 in the last ninety days. Corporate insiders own 16.01% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KYMR. Commodore Capital LP acquired a new position in Kymera Therapeutics during the second quarter valued at $32,730,000. Wellington Management Group LLP increased its position in Kymera Therapeutics by 13.0% in the 1st quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock worth $164,134,000 after purchasing an additional 689,547 shares during the last quarter. Avoro Capital Advisors LLC increased its position in Kymera Therapeutics by 14.4% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company's stock worth $207,184,000 after purchasing an additional 650,000 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in Kymera Therapeutics in the 4th quarter worth about $23,856,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Kymera Therapeutics by 121.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company's stock worth $24,535,000 after purchasing an additional 491,737 shares during the last quarter.

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.