Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Down Following Insider Selling

Kymera Therapeutics, Inc. (NASDAQ:KYMR) gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $94.30, but opened at $90.72. Kymera Therapeutics shares last traded at $88.2150, with a volume of 838,147 shares trading hands.

Specifically, insider Jared Gollob sold 49,307 shares of Kymera Therapeutics stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $88.67, for a total transaction of $4,372,051.69. Following the completion of the transaction, the insider owned 109,992 shares in the company, valued at approximately $9,752,990.64. This trade represents a 30.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nello Mainolfi sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $89.17, for a total value of $8,917,000.00. Following the sale, the chief executive officer owned 660,482 shares in the company, valued at $58,895,179.94. This trade represents a 13.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other news, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $89.76, for a total transaction of $448,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KYMR shares. Piper Sandler reiterated an “overweight” rating and issued a $125.00 price objective (up previously from $98.00) on shares of Kymera Therapeutics in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Kymera Therapeutics from $70.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday. Mizuho initiated coverage on Kymera Therapeutics in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $81.00 target price for the company. Guggenheim initiated coverage on shares of Kymera Therapeutics in a report on Monday, November 3rd. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Jefferies Financial Group raised their price objective on shares of Kymera Therapeutics from $73.00 to $122.00 and gave the stock a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $108.35.

Kymera Therapeutics Trading Up 3.5%

The stock has a fifty day simple moving average of $63.50 and a 200-day simple moving average of $51.18. The company has a market capitalization of $6.47 billion, a PE ratio of -25.04 and a beta of 2.28.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.19). Kymera Therapeutics had a negative net margin of 674.81% and a negative return on equity of 32.92%. The company had revenue of $2.76 million during the quarter, compared to analysts’ expectations of $23.15 million. As a group, equities research analysts predict that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Hedge Funds Weigh In On Kymera Therapeutics

Several institutional investors have recently added to or reduced their stakes in KYMR. Farther Finance Advisors LLC boosted its holdings in Kymera Therapeutics by 642.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock valued at $27,000 after purchasing an additional 540 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Kymera Therapeutics by 81.5% in the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock valued at $44,000 after buying an additional 349 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Kymera Therapeutics by 506.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock valued at $40,000 after buying an additional 770 shares during the period. Bessemer Group Inc. boosted its stake in shares of Kymera Therapeutics by 652.0% in the third quarter. Bessemer Group Inc. now owns 940 shares of the company’s stock valued at $53,000 after buying an additional 815 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Kymera Therapeutics by 18,050.0% during the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock worth $48,000 after acquiring an additional 1,083 shares during the period.

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.