Kymera Therapeutics (NASDAQ:KYMR) Releases 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) issued its earnings results on Monday. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12), Zacks reports. The business 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%. Kymera Therapeutics's quarterly revenue was down 55.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.58) earnings per share.

Kymera Therapeutics Stock Performance

NASDAQ KYMR traded up $0.38 on Friday, reaching $41.93. 371,524 shares of the company's stock traded hands, compared to its average volume of 747,346. The stock has a 50 day moving average price of $44.74 and a 200-day moving average price of $36.48. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -12.05 and a beta of 2.18. Kymera Therapeutics has a fifty-two week low of $19.44 and a fifty-two week high of $53.27.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. B. Riley raised Kymera Therapeutics to a "strong-buy" rating and set a $60.00 price objective for the company in a report on Wednesday, July 30th. Morgan Stanley initiated coverage on Kymera Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $70.00 price target for the company. Guggenheim restated a "buy" rating and set a $60.00 target price on shares of Kymera Therapeutics in a research report on Tuesday, June 3rd. BTIG Research restated a "buy" rating and set a $59.00 target price on shares of Kymera Therapeutics in a research report on Thursday, June 26th. Finally, Wells Fargo & Company decreased their target price on shares of Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Kymera Therapeutics has an average rating of "Buy" and a consensus price target of $59.11.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Elena Ridloff sold 12,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 the SEC website. Also, Director Bvf Partners L. P/Il purchased 317,167 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of $44.00 per share, for a total transaction of $13,955,348.00. Following the completion of the purchase, the director directly owned 2,798,795 shares in the company, valued at $123,146,980. This represents a 12.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 48,349 shares of company stock worth $2,334,301 in the last 90 days. 16.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KYMR. Commodore Capital LP bought a new stake in shares of Kymera Therapeutics in the 2nd quarter worth approximately $32,730,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Kymera Therapeutics by 121.5% during 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 worth $24,535,000 after buying an additional 491,737 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Kymera Therapeutics by 340.4% during the 1st quarter. Millennium Management LLC now owns 510,480 shares of the company's stock worth $13,972,000 after acquiring an additional 394,562 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Kymera Therapeutics in the second quarter valued at approximately $13,275,000. Finally, Perceptive Advisors LLC bought a new position in shares of Kymera Therapeutics in the second quarter valued at approximately $9,169,000.

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.