Kymera Therapeutics (NASDAQ:KYMR) Shares Down 6.8%

Kymera Therapeutics, Inc. (NASDAQ:KYMR) dropped 6.8% during trading on Tuesday . The company traded as low as $19.37 and last traded at $19.46. Approximately 199,117 shares traded hands during trading, a decline of 63% from the average daily volume of 542,361 shares. The stock had previously closed at $20.89.

Wall Street Analysts Forecast Growth

KYMR has been the subject of several analyst reports. Credit Suisse Group boosted their target price on Kymera Therapeutics from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. Piper Sandler lowered their target price on shares of Kymera Therapeutics from $58.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, November 3rd. Leerink Partnrs reissued a “market perform” rating on shares of Kymera Therapeutics in a research report on Monday, October 16th. Stifel Nicolaus raised their price target on Kymera Therapeutics from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, Morgan Stanley cut their price objective on Kymera Therapeutics from $37.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday, November 13th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.30.

Kymera Therapeutics Trading Down 7.5 %

The business’s fifty day moving average price is $14.91 and its 200 day moving average price is $20.51. The company has a market capitalization of $1.07 billion, a P/E ratio of -6.89 and a beta of 1.66.

Insiders Place Their Bets

In related news, Director Bvf Partners L. P/Il acquired 216,406 shares of the stock in a transaction dated Thursday, November 2nd. The shares were bought at an average cost of $11.64 per share, for a total transaction of $2,518,965.84. Following the purchase, the director now owns 2,552,306 shares in the company, valued at approximately $29,708,841.84. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 16.67% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Amundi bought a new position in Kymera Therapeutics during the 4th quarter valued at about $49,000. Point72 Hong Kong Ltd bought a new position in shares of Kymera Therapeutics in the first quarter valued at approximately $53,000. Advisors Asset Management Inc. acquired a new position in shares of Kymera Therapeutics in the 4th quarter worth approximately $58,000. Royal Bank of Canada grew its position in Kymera Therapeutics by 30.0% during the 2nd quarter. Royal Bank of Canada now owns 2,773 shares of the company’s stock worth $64,000 after acquiring an additional 640 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Kymera Therapeutics by 65.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the company’s stock valued at $67,000 after purchasing an additional 1,146 shares in the last quarter.

Kymera Therapeutics Company Profile

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 I clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis, macrophage activation syndrome, general pustular psoriasis, and rheumatoid arthritis; IRAKIMiD program to treat MYD88-mutated diffuse large B cell lymphoma; 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.