9,870 Kymera Therapeutics, Inc. $KYMR Shares Purchased by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management increased its Kymera Therapeutics stake by 47.9% in the third quarter, buying 9,870 shares to bring its holdings to 30,490 shares, valued at about $3.4 million.
• Several other investment firms also added to or initiated positions in Kymera during the quarter, including China Universal Asset Management and Sterling Capital Management.
• Kymera reported a quarterly loss of $1.32 per share and revenue of $1.35 million, both missing analyst expectations. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $139.16.

Kornitzer Capital Management Inc. KS raised its stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 47.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,490 shares of the company's stock after purchasing an additional 9,870 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Kymera Therapeutics were worth $3,408,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. AlphaCentric Advisors LLC boosted its holdings in shares of Kymera Therapeutics by 6.4% in the 3rd quarter. AlphaCentric Advisors LLC now owns 5,729 shares of the company's stock valued at $640,000 after buying an additional 344 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Kymera Therapeutics during the 3rd quarter worth $514,000. China Universal Asset Management Co. Ltd. raised its stake in Kymera Therapeutics by 20.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 15,812 shares of the company's stock worth $1,747,000 after acquiring an additional 2,721 shares in the last quarter. Sterling Capital Management LLC raised its stake in Kymera Therapeutics by 378.6% during the 3rd quarter. Sterling Capital Management LLC now owns 1,919 shares of the company's stock worth $215,000 after acquiring an additional 1,518 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in Kymera Therapeutics during the 3rd quarter worth $482,000.

Kymera Therapeutics Stock Performance

NASDAQ:KYMR opened at $131.73 on Monday. Kymera Therapeutics, Inc. has a 12-month low of $56.75 and a 12-month high of $138.00. The stock's 50 day simple moving average is $115.68 and its 200-day simple moving average is $97.81. The firm has a market cap of $11.25 billion, a P/E ratio of -36.39 and a beta of 2.04.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported ($1.32) earnings per share for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.06). The firm had revenue of $1.35 million during 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 quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned ($0.94) earnings per share. Research analysts forecast that Kymera Therapeutics, Inc. will post -3.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KYMR shares. Bank of America boosted their price target on shares of Kymera Therapeutics from $123.00 to $144.00 and gave the company a "buy" rating in a research report on Monday, September 14th. Wolfe Research raised Kymera Therapeutics from a "peer perform" rating to an "outperform" rating and set a $180.00 price objective on the stock in a report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Kymera Therapeutics in a research report on Thursday, July 30th. They set a "hold" rating and a $120.00 target price on the stock. Mizuho lifted their target price on Kymera Therapeutics from $120.00 to $140.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. Finally, BTIG Research boosted their target price on Kymera Therapeutics from $134.00 to $139.00 and gave the company a "buy" rating in a report on Thursday, October 29th. One 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.16.

Insiders Place Their Bets

In other news, insider Brian Adams sold 6,371 shares of the firm's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $116.83, for a total value of $744,323.93. Following the completion of the sale, the insider owned 50,254 shares in the company, valued at approximately $5,871,174.82. This trade represents a 11.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of the firm's stock in a transaction on 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 sale, the chief executive officer owned 666,568 shares of the company's stock, valued at $75,855,438.40. This trade represents a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.98% of the stock is currently owned by corporate insiders.

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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