Atlas Venture Life Science Advisors LLC Decreases Stock Holdings in Kymera Therapeutics, Inc. $KYMR

Key Points

• Atlas Venture Life Science Advisors cut its Kymera Therapeutics stake by 37.8% in the second quarter, selling 1.73 million shares and retaining 2.85 million shares worth approximately $326.5 million.
• Analysts remain broadly bullish on KYMR, with a consensus rating of “Moderate Buy” and an average price target of $128.70; Wells Fargo recently raised its target to $151.
• Kymera reported better-than-expected quarterly results, including a loss of $0.62 per share versus estimates of $0.71 and revenue of $65 million, up 465.2% year over year. Company insiders, however, sold $386.2 million of stock during the last quarter.

Atlas Venture Life Science Advisors LLC lessened its stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 37.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,847,541 shares of the company's stock after selling 1,730,467 shares during the quarter. Kymera Therapeutics comprises 37.1% of Atlas Venture Life Science Advisors LLC's investment portfolio, making the stock its biggest position. Atlas Venture Life Science Advisors LLC owned 3.42% of Kymera Therapeutics worth $326,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Kymera Therapeutics by 27.5% in 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 in the last quarter. US Bancorp DE increased its stake in shares of Kymera Therapeutics by 9.8% in the third quarter. US Bancorp DE now owns 1,865 shares of the company's stock valued at $106,000 after buying an additional 166 shares during the period. Proficio Capital Partners LLC increased its position in Kymera Therapeutics by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 11,045 shares of the company's stock valued at $1,267,000 after acquiring an additional 200 shares during the period. Glenmede Trust Co. NA increased its holdings in Kymera Therapeutics by 3.6% in the first quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company's stock valued at $565,000 after purchasing an additional 235 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Kymera Therapeutics by 7.5% during the 1st quarter. Cetera Investment Advisers now owns 3,602 shares of the company's stock worth $300,000 after buying an additional 252 shares during the period.

Analysts Set New Price Targets

Several research firms recently issued reports on KYMR. Oppenheimer restated an "outperform" rating and issued a $125.00 target price on shares of Kymera Therapeutics in a report on Wednesday, August 5th. Wells Fargo & Company lifted their price target on shares of Kymera Therapeutics from $116.00 to $151.00 and gave the company an "overweight" rating in a research report on Thursday, August 27th. BTIG Research restated a "buy" rating and set a $134.00 price objective on shares of Kymera Therapeutics in a report on Thursday, June 25th. Morgan Stanley reaffirmed an "overweight" rating and issued a $135.00 price objective on shares of Kymera Therapeutics in a research note on Thursday, August 6th. Finally, Loop Capital set a $97.00 price objective on shares of Kymera Therapeutics in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $128.70.

Insiders Place Their Bets

In other Kymera Therapeutics news, insider Noah Goodman sold 3,389 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $114.29, for a total value of $387,328.81. Following the transaction, the insider directly owned 47,179 shares in the company, valued at $5,392,087.91. The trade was a 6.70% decrease in their ownership of the stock. The transaction 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 the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $109.48, for a total transaction of $3,424,862.84. Following the sale, the director owned 461,794 shares of the company's stock, valued at approximately $50,557,207.12. The trade was a 6.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,587,629 shares of company stock valued at $386,183,782. Company insiders own 15.98% of the company's stock.

Kymera Therapeutics Trading Down 1.1%

Shares of KYMR opened at $117.28 on Friday. The stock has a 50 day moving average of $113.97 and a 200 day moving average of $94.74. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of -36.20 and a beta of 1.96. Kymera Therapeutics, Inc. has a 12 month low of $40.70 and a 12 month high of $130.05.

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

About Kymera Therapeutics

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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