Kymera Therapeutics (NASDAQ:KYMR) Issues Earnings Results, Misses Expectations By $0.12 EPS

Key Points

• Kymera Therapeutics reported an EPS of ($0.95), missing analysts' expectations by $0.11, with a negative return on equity of 30.11% and a net margin of 409.07%.
• Insiders sold 48,349 shares of Kymera Therapeutics stock worth over $2.3 million in the last quarter, with 16.01% of the company currently owned by corporate insiders.
• Analysts generally hold a positive view on the stock, with two analysts rating it as "hold," sixteen as "buy," and three as "strong buy," setting an average target price of $59.11.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.12), Zacks reports. The company had revenue of $11.48 million during the quarter, compared to analyst estimates 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 revenue was down 55.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.58) EPS.

Kymera Therapeutics Stock Performance

Shares of NASDAQ KYMR traded up $0.82 during midday trading on Thursday, reaching $41.55. 814,292 shares of the company traded hands, compared to its average volume of 749,866. The firm has a market cap of $2.97 billion, a PE ratio of -11.97 and a beta of 2.18. The stock's 50-day simple moving average is $44.86 and its 200-day simple moving average is $36.48. Kymera Therapeutics has a 12 month low of $19.44 and a 12 month high of $53.27.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Jeffrey W. Albers sold 6,349 shares of Kymera Therapeutics stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $311,101.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total value of $1,470,000.00. Following the transaction, the chief executive officer directly owned 660,482 shares of the company's stock, valued at approximately $32,363,618. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,349 shares of company stock valued at $2,334,301. Insiders own 16.01% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Kymera Therapeutics by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 152,165 shares of the company's stock valued at $6,640,000 after buying an additional 9,578 shares during the last quarter. Sei Investments Co. bought a new position in shares of Kymera Therapeutics in the second quarter valued at about $265,000. Invesco Ltd. raised its holdings in shares of Kymera Therapeutics by 13.8% in the second quarter. Invesco Ltd. now owns 47,884 shares of the company's stock valued at $2,090,000 after buying an additional 5,809 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Kymera Therapeutics by 121.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company's stock valued at $24,535,000 after buying an additional 491,737 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Kymera Therapeutics by 340.4% in the first quarter. Millennium Management LLC now owns 510,480 shares of the company's stock valued at $13,972,000 after buying an additional 394,562 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Jefferies Financial Group set a $64.00 price objective on shares of Kymera Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, June 25th. The Goldman Sachs Group upgraded shares of Kymera Therapeutics to a "strong-buy" rating in a research note on Tuesday, July 15th. Oppenheimer restated an "outperform" rating and issued a $53.00 price objective (down previously from $56.00) on shares of Kymera Therapeutics in a research note on Friday, June 27th. Finally, Stifel Nicolaus assumed coverage on shares of Kymera Therapeutics in a research note on Tuesday, May 20th. They issued a "buy" rating and a $55.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Kymera Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $59.11.

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.