Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Down - What's Next?

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $47.14, but opened at $45.56. Kymera Therapeutics shares last traded at $45.27, with a volume of 180,790 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BTIG Research reaffirmed a "buy" rating and set a $59.00 price target on shares of Kymera Therapeutics in a research report on Thursday. B. Riley upgraded shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $38.00 to $60.00 in a research note on Tuesday, June 3rd. Bank of America upgraded shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 target price for the company in a research note on Monday, June 2nd. HC Wainwright reissued a "buy" rating and set a $60.00 price target (up previously from $54.00) on shares of Kymera Therapeutics in a research report on Thursday. Finally, Stifel Nicolaus initiated coverage on 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 analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Kymera Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $59.78.

Kymera Therapeutics Price Performance

The stock's 50-day moving average price is $36.33 and its 200-day moving average price is $35.86. The company has a market cap of $2.98 billion, a P/E ratio of -14.75 and a beta of 2.07.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.92) by $0.10. Kymera Therapeutics had a negative net margin of 409.07% and a negative return on equity of 30.11%. The firm had revenue of $22.10 million for the quarter, compared to analyst estimates of $11.38 million. During the same quarter in the prior year, the business posted ($0.69) EPS. The business's revenue was up 114.6% compared to the same quarter last year. As a group, analysts expect that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Elena Ridloff sold 12,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total value of $553,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 6,349 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was 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. Insiders have sold a total of 48,349 shares of company stock worth $2,334,301 in the last 90 days. Company insiders own 16.01% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of Kymera Therapeutics by 3.0% in the 4th quarter. Rhumbline Advisers now owns 64,157 shares of the company's stock valued at $2,581,000 after purchasing an additional 1,861 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Kymera Therapeutics by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 127,093 shares of the company's stock worth $5,113,000 after buying an additional 5,448 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kymera Therapeutics by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,187 shares of the company's stock valued at $15,577,000 after buying an additional 20,346 shares in the last quarter. Victory Capital Management Inc. grew its position in Kymera Therapeutics by 174.2% in the fourth quarter. Victory Capital Management Inc. now owns 19,899 shares of the company's stock valued at $801,000 after acquiring an additional 12,643 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Kymera Therapeutics by 15.5% in the fourth quarter. Arizona State Retirement System now owns 11,221 shares of the company's stock valued at $451,000 after acquiring an additional 1,503 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.