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

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 investment 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 brokerages have also recently issued reports on KYMR. The Goldman Sachs Group upgraded shares of Kymera Therapeutics to a "strong-buy" rating in a research report on Tuesday, July 15th. Oppenheimer restated an "outperform" rating and set a $53.00 price target (down from $56.00) on shares of Kymera Therapeutics in a research report on Friday, June 27th. B. Riley upgraded shares of Kymera Therapeutics to a "strong-buy" rating and set a $60.00 price target for the company in a report on Wednesday, July 30th. HC Wainwright reaffirmed a "buy" rating and issued a $60.00 target price (up previously from $54.00) on shares of Kymera Therapeutics in a report on Thursday, June 26th. Finally, Bank of America raised shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 target price on the stock in a report on Monday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Kymera Therapeutics currently has an average rating of "Buy" and an average price target of $59.11.

Kymera Therapeutics Price Performance

Shares of KYMR traded down $0.8780 during mid-day trading on Friday, hitting $42.7420. The stock had a trading volume of 262,837 shares, compared to its average volume of 746,574. The firm has a market cap of $3.06 billion, a P/E ratio of -12.36 and a beta of 2.18. The business has a fifty day moving average price of $44.57 and a 200-day moving average price of $36.47. Kymera Therapeutics has a 52 week low of $19.44 and a 52 week high of $53.27.

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

Insiders Place Their Bets

In other news, Director Bvf Partners L. P/Il purchased 317,167 shares of the business's stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $44.00 per share, for a total transaction of $13,955,348.00. Following the purchase, the director owned 2,798,795 shares of the company's stock, valued at $123,146,980. The trade was a 12.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bros. Advisors Lp Baker acquired 655,500 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average cost of $44.00 per share, for a total transaction of $28,842,000.00. Following the completion of the acquisition, the director owned 6,117,295 shares in the company, valued at $269,160,980. This 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. 16.01% of the stock is currently owned by insiders.

Institutional Trading of Kymera Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its stake in shares of Kymera Therapeutics by 642.9% in the second quarter. Farther Finance Advisors LLC now owns 624 shares of the company's stock worth $27,000 after acquiring an additional 540 shares during the period. PNC Financial Services Group Inc. boosted its stake in Kymera Therapeutics by 506.6% during the second quarter. PNC Financial Services Group Inc. now owns 922 shares of the company's stock valued at $40,000 after buying an additional 770 shares during the last quarter. State of Wyoming bought a new position in Kymera Therapeutics during the fourth quarter valued at approximately $45,000. GF Fund Management CO. LTD. bought a new stake in shares of Kymera Therapeutics in the 4th quarter valued at approximately $55,000. Finally, KBC Group NV lifted its stake in shares of Kymera Therapeutics by 15.2% in the 1st quarter. KBC Group NV now owns 2,479 shares of the company's stock valued at $68,000 after purchasing an additional 328 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.