Jennison Associates LLC Acquires 272,739 Shares of Kymera Therapeutics, Inc. $KYMR

Jennison Associates LLC boosted its holdings in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 49.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 825,025 shares of the company’s stock after acquiring an additional 272,739 shares during the quarter. Jennison Associates LLC owned approximately 1.27% of Kymera Therapeutics worth $36,004,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. KBC Group NV raised its position in Kymera Therapeutics by 15.2% during the first quarter. KBC Group NV now owns 2,479 shares of the company’s stock valued at $68,000 after acquiring an additional 328 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Kymera Therapeutics by 15.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,516 shares of the company’s stock valued at $110,000 after acquiring an additional 343 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Kymera Therapeutics by 642.9% in the second quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock valued at $27,000 after purchasing an additional 540 shares during the period. Comerica Bank raised its position in shares of Kymera Therapeutics by 3.6% in the first quarter. Comerica Bank now owns 21,374 shares of the company’s stock valued at $585,000 after purchasing an additional 743 shares during the period. Finally, Clear Harbor Asset Management LLC raised its position in shares of Kymera Therapeutics by 8.1% in the second quarter. Clear Harbor Asset Management LLC now owns 11,194 shares of the company’s stock valued at $489,000 after purchasing an additional 838 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. B. Riley lifted their price target on shares of Kymera Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, October 24th. The Goldman Sachs Group upgraded shares of Kymera Therapeutics to a “strong-buy” rating in a report on Tuesday, July 15th. HC Wainwright upped their price target on shares of Kymera Therapeutics from $60.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Truist Financial upped their price target on shares of Kymera Therapeutics from $53.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Kymera Therapeutics in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.45.

Kymera Therapeutics Stock Performance

Shares of KYMR stock opened at $61.44 on Friday. The firm has a fifty day moving average of $52.07 and a 200-day moving average of $43.67. Kymera Therapeutics, Inc. has a 52-week low of $19.44 and a 52-week high of $63.96. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of -17.71 and a beta of 2.26.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Monday, August 11th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). The business had revenue of $11.48 million during the quarter, compared to the consensus estimate of $17.37 million. Kymera Therapeutics had a negative net margin of 616.03% and a negative return on equity of 31.60%. The business’s revenue was down 55.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.58) EPS. On average, sell-side analysts predict that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Bruce N. Jacobs sold 79,220 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $50.00, for a total transaction of $3,961,000.00. Following the completion of the transaction, the chief financial officer owned 227,409 shares in the company, valued at $11,370,450. This trade represents a 25.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jared Gollob sold 59,576 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $61.42, for a total value of $3,659,157.92. Following the completion of the sale, the insider directly owned 109,992 shares in the company, valued at approximately $6,755,708.64. This represents a 35.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 206,910 shares of company stock valued at $11,402,648. 16.01% of the stock is currently owned by corporate insiders.

Kymera Therapeutics 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 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.