5,538,210 Shares in Kymera Therapeutics, Inc. $KYMR Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 5.54 million Kymera Therapeutics shares worth approximately $635.1 million, giving it a 6.73% stake in the company.
• Kymera reported quarterly revenue of $65 million, up 465.2% year over year, and an adjusted loss of $0.62 per share—better than analysts’ expected loss of $0.71.
• Analysts maintain a generally positive outlook, with 20 Buy ratings and a consensus price target of $125.65, although insiders sold more than 3.6 million shares worth approximately $387.6 million during the quarter.

BlackRock Inc. acquired a new position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,538,210 shares of the company's stock, valued at approximately $635,067,000. BlackRock Inc. owned 6.73% of Kymera Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Kymera Therapeutics by 382.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the company's stock valued at $42,000 after acquiring an additional 424 shares during the period. Larson Financial Group LLC grew its position in Kymera Therapeutics by 81.5% during the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company's stock worth $44,000 after purchasing an additional 349 shares in the last quarter. Osaic Holdings Inc. grew its position in Kymera Therapeutics by 18,050.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock worth $48,000 after purchasing an additional 1,083 shares in the last quarter. GAMMA Investing LLC raised its stake in Kymera Therapeutics by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $52,000 after purchasing an additional 98 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Kymera Therapeutics during the 4th quarter valued at $63,000.

Kymera Therapeutics Stock Performance

Shares of NASDAQ:KYMR opened at $119.80 on Monday. Kymera Therapeutics, Inc. has a 1 year low of $39.84 and a 1 year high of $130.05. The business has a fifty day simple moving average of $109.42 and a 200 day simple moving average of $92.15. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of -36.98 and a beta of 1.95.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.71) by $0.09. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The firm had revenue of $65.00 million during the quarter, compared to analysts' expectations of $32.78 million. During the same quarter last year, the firm earned ($0.95) earnings per share. The business's revenue for the quarter was up 465.2% on a year-over-year basis. On average, sell-side analysts forecast that Kymera Therapeutics, Inc. will post -3.75 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Bruce N. Jacobs sold 77,109 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $114.96, for a total transaction of $8,864,450.64. Following the transaction, the chief financial officer owned 244,883 shares of the company's stock, valued at approximately $28,151,749.68. This trade represents a 23.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce Booth sold 31,283 shares of Kymera Therapeutics stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $109.48, for a total transaction of $3,424,862.84. Following the completion of the sale, the director owned 461,794 shares of the company's stock, valued at $50,557,207.12. This trade represents a 6.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,604,813 shares of company stock worth $387,557,004 in the last quarter. Corporate insiders own 15.98% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Brookline Capital Markets reaffirmed a "buy" rating on shares of Kymera Therapeutics in a research report on Monday, June 8th. Citigroup reissued a "buy" rating on shares of Kymera Therapeutics in a research note on Thursday, August 6th. B. Riley Financial raised their price objective on Kymera Therapeutics from $117.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. BTIG Research restated a "buy" rating and set a $134.00 price objective on shares of Kymera Therapeutics in a research report on Thursday, June 25th. Finally, Bank of America lifted their target price on Kymera Therapeutics from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $125.65.

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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