310,487 Kymera Therapeutics, Inc. $KYMR Shares Bought by Fisher Asset Management LLC

Key Points

• Fisher Asset Management increased its Kymera Therapeutics stake by 2,438.6% in the third quarter, adding 310,487 shares and ending the period with 323,219 shares valued at about $36.1 million.
• Analysts remain broadly positive: Kymera has a “Moderate Buy” consensus and an average price target of $139.16, with several firms recently raising their targets.
• Kymera reported a quarterly loss of $1.32 per share, wider than analysts’ $1.26 estimate, and revenue of $1.35 million versus expectations of $3.28 million. The CEO also sold 30,000 shares in October.

Fisher Asset Management LLC raised its holdings in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 2,438.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 323,219 shares of the company's stock after buying an additional 310,487 shares during the period. Fisher Asset Management LLC owned about 0.38% of Kymera Therapeutics worth $36,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new position in shares of Kymera Therapeutics during the 3rd quarter worth $37,000. GAMMA Investing LLC raised its holdings in Kymera Therapeutics by 27.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $52,000 after purchasing an additional 98 shares during the period. Fulcrum Asset Management LLP purchased a new position in Kymera Therapeutics during the third quarter valued at $65,000. IFP Advisors Inc lifted its position in Kymera Therapeutics by 236.5% during the third quarter. IFP Advisors Inc now owns 737 shares of the company's stock valued at $82,000 after purchasing an additional 518 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Kymera Therapeutics by 56.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,285 shares of the company's stock valued at $107,000 after purchasing an additional 463 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company raised their price objective on Kymera Therapeutics from $116.00 to $151.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. Loop Capital set a $132.00 target price on shares of Kymera Therapeutics in a research note on Thursday, October 29th. Raymond James Financial reiterated an "outperform" rating on shares of Kymera Therapeutics in a research report on Thursday, October 29th. Citigroup increased their price objective on shares of Kymera Therapeutics from $135.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, October 5th. Finally, Truist Financial reissued a "buy" rating and issued a $150.00 price objective (up from $136.00) on shares of Kymera Therapeutics in a research note on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $139.16.

Insider Activity

In other news, CEO Nello Mainolfi sold 30,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $113.80, for a total transaction of $3,414,000.00. Following the completion of the transaction, the chief executive officer owned 666,568 shares in the company, valued at $75,855,438.40. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian Adams sold 6,371 shares of Kymera Therapeutics stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $116.83, for a total value of $744,323.93. Following the completion of the sale, the insider directly owned 50,254 shares in the company, valued at $5,871,174.82. This trade represents a 11.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 15.98% of the stock is owned by corporate insiders.

Kymera Therapeutics Stock Performance

Shares of Kymera Therapeutics stock traded up $0.40 on Friday, hitting $127.57. 808,724 shares of the company traded hands, compared to its average volume of 975,533. Kymera Therapeutics, Inc. has a 52 week low of $62.13 and a 52 week high of $142.92. The business has a 50-day simple moving average of $117.14 and a 200 day simple moving average of $99.35. The stock has a market capitalization of $10.89 billion, a P/E ratio of -35.24 and a beta of 2.04.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.06). The company had revenue of $1.35 million for the quarter, compared to analysts' expectations of $3.28 million. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 22.39%. The business's revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.94) earnings per share. Research analysts expect that Kymera Therapeutics, Inc. will post -3.88 earnings per share for the current year.

About Kymera Therapeutics

Kymera Therapeutics, Inc. is a clinical-stage biotechnology company developing medicines that selectively remove disease-causing proteins from cells. Its approach, known as targeted protein degradation, uses the body's natural protein-disposal system and is designed to address targets that may be difficult to reach with conventional drugs. The company's research and development programs include small-molecule protein degraders for conditions involving immune and inflammatory pathways, as well as cancer.

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