Ameriprise Financial Inc. Takes Position in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Ameriprise Financial Inc. acquired a new stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,544 shares of the company's stock, valued at approximately $344,000.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in Kymera Therapeutics by 3.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,870,333 shares of the company's stock worth $276,395,000 after purchasing an additional 224,859 shares during the period. Wellington Management Group LLP lifted its position in Kymera Therapeutics by 14.9% in the fourth quarter. Wellington Management Group LLP now owns 5,307,326 shares of the company's stock worth $213,514,000 after purchasing an additional 688,967 shares during the period. Avoro Capital Advisors LLC lifted its position in Kymera Therapeutics by 14.4% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company's stock worth $207,184,000 after purchasing an additional 650,000 shares during the period. Vanguard Group Inc. lifted its position in Kymera Therapeutics by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,887,312 shares of the company's stock worth $196,617,000 after purchasing an additional 133,546 shares during the period. Finally, Geode Capital Management LLC lifted its position in Kymera Therapeutics by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 1,105,487 shares of the company's stock worth $44,484,000 after purchasing an additional 52,263 shares during the period.

Kymera Therapeutics Stock Performance

Shares of NASDAQ:KYMR opened at $47.66 on Friday. Kymera Therapeutics, Inc. has a twelve month low of $19.45 and a twelve month high of $53.27. The firm has a market cap of $3.10 billion, a PE ratio of -20.37 and a beta of 2.07. The business has a fifty day moving average of $29.81 and a 200-day moving average of $35.74.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($0.82) earnings per share for the quarter, beating analysts' consensus estimates of ($0.92) by $0.10. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company had revenue of $22.10 million during the quarter, compared to analyst estimates of $11.38 million. During the same period last year, the company posted ($0.69) earnings per share. The firm's quarterly revenue was up 114.6% compared to the same quarter last year. On average, analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on KYMR. UBS Group reduced their target price on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and issued a $52.00 target price on shares of Kymera Therapeutics in a research report on Monday, May 12th. JPMorgan Chase & Co. raised their target price on Kymera Therapeutics from $57.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday. Citigroup began coverage on Kymera Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $52.00 target price for the company. Finally, Bank of America raised Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 target price for the company in a research report on Monday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Kymera Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $59.35.

Insider Activity

In related news, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total value of $1,470,000.00. Following the completion of the sale, the chief executive officer now directly owns 660,482 shares in the company, valued at $32,363,618. This trade represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elena Ridloff sold 12,000 shares of Kymera Therapeutics stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total value of $553,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,349 shares of company stock worth $2,334,301. 16.01% of the stock is owned by corporate insiders.

Kymera Therapeutics Profile

Kymera Therapeutics, Inc, a biopharmaceutical company, focuses on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system. It engages in developing IRAK4 program, which is in Phase II clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors.

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