Kymera Therapeutics (NASDAQ:KYMR) Trading Down 7% - Here's What Happened

Key Points

• Kymera Therapeutics shares fell about 7% on Monday, trading as low as $111.24 after closing at $119.35 the prior session. Volume was far below average, with about 140,821 shares changing hands versus a 759,974-share daily average.
• Analyst sentiment remains mostly positive despite the pullback, with several firms raising price targets, including Truist to $136 and Bank of America to $125. The stock currently has a consensus rating of Moderate Buy and an average target price of $121.73.
• Recent insider selling was significant, including a large sale by BVF Partners and a separate sale by CFO Bruce N. Jacobs. Over the last quarter, insiders sold 3.66 million shares worth about $392.4 million, even as the company beat quarterly earnings and revenue estimates.

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) dropped 7% during trading on Monday . The stock traded as low as $111.24 and last traded at $111.0490. Approximately 140,821 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 759,974 shares. The stock had previously closed at $119.35.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KYMR shares. Royal Bank Of Canada downgraded shares of Kymera Therapeutics from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $106.00 to $115.00 in a research report on Monday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kymera Therapeutics in a research note on Tuesday, April 21st. Truist Financial boosted their price objective on Kymera Therapeutics from $116.00 to $136.00 and gave the company a "buy" rating in a report on Monday, June 29th. Loop Capital set a $97.00 target price on Kymera Therapeutics in a report on Monday, June 8th. Finally, Bank of America lifted their price target on Kymera Therapeutics from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $121.73.

Kymera Therapeutics Stock Down 7.9%

The company's 50-day moving average is $90.61 and its 200 day moving average is $84.32. The company has a market cap of $9.04 billion, a price-to-earnings ratio of -30.79 and a beta of 1.95.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) earnings per share for the quarter, topping analysts' consensus estimates of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The business had revenue of $34.37 million during the quarter, compared to the consensus estimate of $8.27 million. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. The company's revenue was up 55.5% compared to the same quarter last year. Analysts predict that Kymera Therapeutics, Inc. will post -3.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bvf Partners L. P/Il sold 1,578,800 shares of the company's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $106.50, for a total value of $168,142,200.00. Following the completion of the transaction, the director owned 240,123 shares of the company's stock, valued at approximately $25,573,099.50. This represents a 86.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bruce N. Jacobs sold 77,109 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $114.96, for a total value of $8,864,450.64. Following the transaction, the chief financial officer owned 244,883 shares in the company, valued at $28,151,749.68. This represents a 23.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,661,505 shares of company stock worth $392,385,535. 15.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB raised its position in Kymera Therapeutics by 15.0% during the second quarter. Handelsbanken Fonder AB now owns 20,700 shares of the company's stock worth $2,374,000 after acquiring an additional 2,700 shares during the period. GAMMA Investing LLC increased its stake in shares of Kymera Therapeutics by 27.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $52,000 after purchasing an additional 98 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Kymera Therapeutics during the first quarter worth about $203,000. Glenmede Trust Co. NA raised its position in shares of Kymera Therapeutics by 3.6% during the 1st quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company's stock worth $565,000 after purchasing an additional 235 shares during the last quarter. Finally, Amundi acquired a new position in shares of Kymera Therapeutics during the 1st quarter worth about $249,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body's natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company's proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company's pipeline emphasizes immunology and oncology.

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