Kymera Therapeutics (NASDAQ:KYMR) Stock Falls 5% - Should You Sell?

Key Points

• Kymera Therapeutics shares fell about 5% to approximately $104.35, below the 50-day moving average of $114.62 but above the 200-day average of $99.27.
• Despite the decline, Wall Street remains broadly bullish: the stock has a “Moderate Buy” consensus rating and an average price target of $134.46, implying substantial upside.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.62 per share versus estimates of $0.71 and revenue of $65 million, up 465.2% year over year. Insiders have sold shares, while major institutional investors—including BlackRock and Merck—have recently established or increased positions.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) shares fell 5% on Tuesday. The company traded as low as $106.36 and last traded at $104.3460. 62,536 shares changed hands during trading, a decline of 92% from the average session volume of 736,997 shares. The stock had previously closed at $109.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Mizuho upped their price objective on Kymera Therapeutics from $120.00 to $140.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Brookline Capital Markets reissued a "buy" rating on shares of Kymera Therapeutics in a report on Monday, June 8th. Barclays increased their price objective on shares of Kymera Therapeutics from $133.00 to $139.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Loop Capital set a $97.00 target price on shares of Kymera Therapeutics in a research note on Monday, June 8th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $125.00 price target on shares of Kymera Therapeutics in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.46.

Kymera Therapeutics Trading Down 4.7%

The firm has a market capitalization of $8.71 billion, a P/E ratio of -32.23 and a beta of 1.98. The firm has a 50 day moving average price of $114.62 and a 200-day moving average price of $99.27.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.71) by $0.09. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The company had revenue of $65.00 million during the quarter, compared to the consensus estimate of $32.78 million. During the same period last year, the company earned ($0.95) earnings per share. Kymera Therapeutics's revenue was up 465.2% on a year-over-year basis. Research analysts anticipate that Kymera Therapeutics, Inc. will post -3.83 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In other Kymera Therapeutics news, insider Brian Adams sold 6,371 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $116.83, for a total transaction of $744,323.93. Following the completion of the transaction, the insider owned 50,254 shares in the company, valued at $5,871,174.82. The trade was a 11.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $113.80, for a total value of $3,414,000.00. Following the transaction, the chief executive officer owned 666,568 shares of the company's stock, valued at $75,855,438.40. This trade represents a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Kymera Therapeutics during the 2nd quarter valued at about $635,067,000. Baker BROS. Advisors LP boosted its stake in shares of Kymera Therapeutics by 30.2% during the fourth quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company's stock valued at $673,620,000 after purchasing an additional 2,005,813 shares in the last quarter. Avoro Capital Advisors LLC increased its holdings in Kymera Therapeutics by 17.7% during the fourth quarter. Avoro Capital Advisors LLC now owns 7,474,747 shares of the company's stock valued at $581,610,000 after buying an additional 1,124,747 shares during the period. Merck & Co. Inc. bought a new position in Kymera Therapeutics in the second quarter worth approximately $88,544,161. Finally, Bank of America Corp DE purchased a new stake in Kymera Therapeutics during the second quarter worth $43,378,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively remove disease-causing proteins from cells. The company uses its targeted protein degradation platform, including molecular glue degraders, to address proteins that may be difficult to inhibit with conventional small-molecule drugs.

Kymera's research and development activities center on immune-inflammatory diseases and cancer. Its pipeline has included investigational degraders designed to target proteins such as interleukin-1 receptor-associated kinase 4 (IRAK4) and signal transducer and activator of transcription 6 (STAT6), with the goal of treating conditions involving abnormal immune signaling.

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