119,503 Shares in Kymera Therapeutics, Inc. $KYMR Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 119,503 Kymera Therapeutics shares during the second quarter, worth approximately $13.7 million and representing about 0.14% of the company.
• Several major institutions increased their KYMR holdings, including Baker BROS. Advisors, Avoro Capital, Vanguard, and T. Rowe Price, while insiders sold 3.59 million shares worth approximately $386.2 million over the past 90 days.
• Kymera exceeded quarterly expectations, reporting revenue of $65 million and an adjusted loss of $0.62 per share; analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $127.17.

The Manufacturers Life Insurance Company purchased a new stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 119,503 shares of the company's stock, valued at approximately $13,703,000. The Manufacturers Life Insurance Company owned about 0.14% of Kymera Therapeutics as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in KYMR. Baker BROS. Advisors LP raised its position in shares of Kymera Therapeutics by 30.2% in the 4th quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company's stock worth $673,620,000 after buying an additional 2,005,813 shares during the period. Avoro Capital Advisors LLC grew its position 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 acquiring an additional 1,124,747 shares during the period. Vanguard Group Inc. grew its position in Kymera Therapeutics by 15.6% during the fourth quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company's stock valued at $487,685,000 after acquiring an additional 845,922 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Kymera Therapeutics by 20.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,159,335 shares of the company's stock worth $479,258,000 after acquiring an additional 1,061,957 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in shares of Kymera Therapeutics in the 2nd quarter worth about $635,067,000.

Insiders Place Their Bets

In other Kymera Therapeutics news, Director Bruce Booth sold 467,878 shares of Kymera Therapeutics stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $110.29, for a total transaction of $51,602,264.62. Following the sale, the director directly owned 472,267 shares in the company, valued at $52,086,327.43. The trade was a 49.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Bruce N. Jacobs sold 77,109 shares of Kymera Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $114.96, for a total value of $8,864,450.64. Following the sale, the chief financial officer owned 244,883 shares in the company, valued at $28,151,749.68. This represents a 23.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 3,587,629 shares of company stock worth $386,183,782. 15.98% of the stock is owned by insiders.

Kymera Therapeutics Price Performance

Shares of KYMR stock opened at $118.15 on Friday. Kymera Therapeutics, Inc. has a 12 month low of $39.84 and a 12 month high of $130.05. The firm has a market capitalization of $9.82 billion, a P/E ratio of -36.47 and a beta of 1.95. The company's fifty day moving average price is $112.78 and its two-hundred day moving average price is $93.61.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, beating analysts' consensus estimates of ($0.71) by $0.09. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The company had revenue of $65.00 million during the quarter, compared to analysts' expectations of $32.78 million. During the same period in the prior year, the company posted ($0.95) EPS. The firm's revenue for the quarter was up 465.2% on a year-over-year basis. On average, sell-side analysts anticipate that Kymera Therapeutics, Inc. will post -3.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KYMR. Morgan Stanley reiterated an "overweight" rating and set a $135.00 target price on shares of Kymera Therapeutics in a report on Thursday, August 6th. Brookline Capital Markets reiterated a "buy" rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. BTIG Research reiterated a "buy" rating and set a $134.00 target price on shares of Kymera Therapeutics in a report on Thursday, June 25th. Wells Fargo & Company boosted their price target on Kymera Therapeutics from $116.00 to $151.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Canaccord Genuity Group upped their price target on Kymera Therapeutics from $106.00 to $129.00 and gave the stock a "buy" rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $127.17.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body's natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company's proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company's pipeline emphasizes immunology and oncology.

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