215,588 Shares in Kymera Therapeutics, Inc. $KYMR Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 215,588 Kymera Therapeutics shares worth approximately $24.7 million, representing about 0.26% of the company.
• Analysts maintain a generally positive outlook, with 20 Buy ratings, one Strong Buy, two Holds and one Sell; the stock has an average “Moderate Buy” rating and a $127.17 target price.
• Kymera beat quarterly expectations with an adjusted loss of $0.62 per share versus estimates of $0.71 and revenue of $65 million, up 465.2% year over year. However, insiders sold $386.2 million of stock over the past 90 days.

Bank of New York Mellon Corp purchased a new position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 215,588 shares of the company's stock, valued at approximately $24,721,000. Bank of New York Mellon Corp owned approximately 0.26% of Kymera Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in Kymera Therapeutics by 382.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the company's stock worth $42,000 after acquiring an additional 424 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Kymera Therapeutics by 81.5% during the third quarter. Larson Financial Group LLC now owns 777 shares of the company's stock valued at $44,000 after purchasing an additional 349 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of 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 purchasing an additional 1,083 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Kymera Therapeutics by 27.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $52,000 after purchasing an additional 98 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Kymera Therapeutics in the fourth quarter valued at approximately $63,000.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Citigroup restated a "buy" rating on shares of Kymera Therapeutics in a research report on Thursday, August 6th. Canaccord Genuity Group lifted their price target on shares of Kymera Therapeutics from $106.00 to $129.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Barclays boosted their price objective on shares of Kymera Therapeutics from $133.00 to $139.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Guggenheim increased their price objective on Kymera Therapeutics from $125.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kymera Therapeutics in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Kymera Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $127.17.

Kymera Therapeutics Price Performance

Shares of NASDAQ KYMR opened at $118.15 on Monday. The company has a market capitalization of $9.82 billion, a PE ratio of -36.47 and a beta of 1.95. Kymera Therapeutics, Inc. has a twelve month low of $39.84 and a twelve month high of $130.05. The firm has a fifty day simple moving average of $112.78 and a 200 day simple moving average of $93.71.

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

Insiders Place Their Bets

In other news, Director Bvf Partners L. P/Il sold 1,578,800 shares of Kymera Therapeutics stock in a transaction on Friday, June 26th. The shares were sold at an average price of $106.50, for a total value of $168,142,200.00. Following the completion of the sale, the director owned 240,123 shares in the company, valued at $25,573,099.50. The trade was a 86.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nello Mainolfi sold 80,000 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $115.29, for a total transaction of $9,223,200.00. Following the transaction, the chief executive officer owned 666,568 shares in the company, valued at $76,848,624.72. The trade was a 10.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,587,629 shares of company stock valued at $386,183,782 over the last 90 days. 15.98% of the stock is currently owned by corporate insiders.

Kymera Therapeutics Profile

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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