Kymera Therapeutics (NASDAQ:KYMR) CEO Nello Mainolfi Sells 30,000 Shares

Key Points

• Nello Mainolfi, the CEO of Kymera Therapeutics, sold 30,000 shares of the company's stock for a total of $1,470,000, reducing his ownership by 4.34%.
• Kymera Therapeutics reported a loss of ($0.95) earnings per share for the last quarter, which was below analysts' expectations, and saw a 55.1% decline in revenue year-over-year.
• Several research analysts have recently changed their ratings on Kymera Therapeutics, with a consensus rating of "Buy" and a target price of $59.39 for the stock.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) CEO Nello Mainolfi sold 30,000 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $49.00, for a total value of $1,470,000.00. Following the sale, the chief executive officer owned 660,482 shares of the company's stock, valued at approximately $32,363,618. This represents a 4.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Kymera Therapeutics Trading Down 4.0%

Shares of KYMR traded down $2.03 during midday trading on Friday, hitting $49.13. 2,555,812 shares of the company's stock traded hands, compared to its average volume of 687,594. Kymera Therapeutics, Inc. has a 1 year low of $19.44 and a 1 year high of $53.27. The firm's fifty day moving average is $43.85 and its 200-day moving average is $37.88. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -14.16 and a beta of 2.17.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.12). Kymera Therapeutics had a negative net margin of 616.03% and a negative return on equity of 31.60%. The business had revenue of $11.48 million for the quarter, compared to analysts' expectations of $17.37 million. During the same quarter in the prior year, the company posted ($0.58) EPS. The business's revenue for the quarter was down 55.1% on a year-over-year basis. On average, equities research analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Institutional Trading of Kymera Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KYMR. Siren L.L.C. increased its position in shares of Kymera Therapeutics by 9.1% during the first quarter. Siren L.L.C. now owns 3,240,313 shares of the company's stock worth $88,687,000 after acquiring an additional 270,580 shares during the period. Ameriprise Financial Inc. acquired a new position in Kymera Therapeutics in the fourth quarter valued at $344,000. Rhumbline Advisers boosted its stake in Kymera Therapeutics by 9.0% in the first quarter. Rhumbline Advisers now owns 69,928 shares of the company's stock valued at $1,914,000 after acquiring an additional 5,771 shares in the last quarter. GAMMA Investing LLC boosted its stake in Kymera Therapeutics by 3,851.5% in the first quarter. GAMMA Investing LLC now owns 6,678 shares of the company's stock valued at $183,000 after acquiring an additional 6,509 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Kymera Therapeutics by 205.0% during the fourth quarter. Millennium Management LLC now owns 115,918 shares of the company's stock worth $4,663,000 after buying an additional 77,912 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have commented on KYMR shares. Morgan Stanley started coverage on Kymera Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $70.00 price target for the company. Bank of America raised Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 price target for the company in a research report on Monday, June 2nd. Barclays initiated coverage on Kymera Therapeutics in a research report on Wednesday. They set an "overweight" rating and a $60.00 price target for the company. Royal Bank Of Canada initiated coverage on Kymera Therapeutics in a research note on Tuesday. They set an "outperform" rating and a $70.00 price objective for the company. Finally, Wall Street Zen lowered Kymera Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $59.95.

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.