Kymera Therapeutics (NASDAQ:KYMR) Shares Down 4.1% on Analyst Downgrade

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report)'s stock price traded down 4.1% during trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $57.00 to $53.00. Wells Fargo & Company currently has an overweight rating on the stock. Kymera Therapeutics traded as low as $44.00 and last traded at $44.57. 258,335 shares traded hands during trading, a decline of 58% from the average session volume of 612,354 shares. The stock had previously closed at $46.47.

Other equities research analysts have also recently issued reports about the stock. B. Riley raised shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the company from $38.00 to $60.00 in a research note on Tuesday, June 3rd. HC Wainwright reiterated a "buy" rating and issued a $60.00 price target (up from $54.00) on shares of Kymera Therapeutics in a research report on Thursday. Morgan Stanley raised Kymera Therapeutics from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $49.00 to $79.00 in a research note on Tuesday, June 3rd. Wall Street Zen upgraded Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Kymera Therapeutics from $57.00 to $64.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Kymera Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $59.78.

Insider Buying and Selling

In other news, Director Elena Ridloff sold 12,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $46.10, for a total value of $553,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey W. Albers sold 6,349 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total transaction of $311,101.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,349 shares of company stock valued at $2,334,301. Insiders own 16.01% of the company's stock.

Institutional Investors Weigh In On Kymera Therapeutics

A number of large investors have recently modified their holdings of the stock. State of Wyoming acquired a new position in Kymera Therapeutics during the 4th quarter worth approximately $45,000. GF Fund Management CO. LTD. purchased a new stake in shares of Kymera Therapeutics during the fourth quarter valued at approximately $55,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Kymera Therapeutics during the first quarter worth $68,000. KBC Group NV lifted its position in shares of Kymera Therapeutics by 15.2% during the first quarter. KBC Group NV now owns 2,479 shares of the company's stock worth $68,000 after purchasing an additional 328 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Kymera Therapeutics by 95.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,812 shares of the company's stock valued at $194,000 after purchasing an additional 2,350 shares during the period.

Kymera Therapeutics Stock Performance

The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -14.75 and a beta of 2.07. The stock's fifty day moving average is $36.33 and its two-hundred day moving average is $35.86.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.10. Kymera Therapeutics had a negative return on equity of 30.11% and a negative net margin of 409.07%. The company had revenue of $22.10 million during the quarter, compared to the consensus estimate of $11.38 million. During the same period last year, the firm earned ($0.69) earnings per share. The company's revenue was up 114.6% on a year-over-year basis. Sell-side analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

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.