Avoro Capital Advisors LLC Grows Holdings in Kymera Therapeutics, Inc. $KYMR

Key Points

• Avoro Capital Advisors increased its Kymera Therapeutics stake by 17.7% in the fourth quarter, bringing its holdings to 7.47 million shares worth about $581.6 million. The stock now represents 5.6% of Avoro’s portfolio and its seventh-largest position.
• Other major institutional investors also boosted their positions, including Vanguard, State Street, Capital Research Global Investors, Geode Capital Management, and UBS AM. This points to broad institutional interest in Kymera Therapeutics.
• Analysts remain generally positive on the stock, with a consensus rating of Moderate Buy and an average price target of $117.14. Kymera also beat first-quarter expectations, reporting smaller-than-expected losses and revenue that far exceeded estimates.

Avoro Capital Advisors LLC grew its position in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,474,747 shares of the company's stock after purchasing an additional 1,124,747 shares during the period. Kymera Therapeutics comprises about 5.6% of Avoro Capital Advisors LLC's portfolio, making the stock its 7th largest position. Avoro Capital Advisors LLC owned about 9.16% of Kymera Therapeutics worth $581,610,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Kymera Therapeutics by 15.6% in the fourth quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company's stock valued at $487,685,000 after purchasing an additional 845,922 shares during the last quarter. State Street Corp raised its holdings in shares of Kymera Therapeutics by 9.4% in the fourth quarter. State Street Corp now owns 2,209,837 shares of the company's stock valued at $171,947,000 after purchasing an additional 190,383 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Kymera Therapeutics by 23.7% in the fourth quarter. Capital Research Global Investors now owns 1,560,791 shares of the company's stock valued at $121,445,000 after purchasing an additional 298,609 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Kymera Therapeutics by 11.0% in the fourth quarter. Geode Capital Management LLC now owns 1,417,389 shares of the company's stock valued at $110,307,000 after purchasing an additional 140,623 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Kymera Therapeutics by 5.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 912,498 shares of the company's stock valued at $71,001,000 after purchasing an additional 48,736 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of Kymera Therapeutics in a report on Wednesday, May 6th. They issued a "buy" rating and a $106.00 target price for the company. Piper Sandler increased their target price on shares of Kymera Therapeutics from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Stephens increased their target price on shares of Kymera Therapeutics from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. Wall Street Zen upgraded shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Citigroup increased their target price on shares of Kymera Therapeutics from $110.00 to $120.00 and gave the company a "buy" rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.14.

Kymera Therapeutics Stock Performance

NASDAQ KYMR opened at $87.44 on Wednesday. Kymera Therapeutics, Inc. has a 52-week low of $36.65 and a 52-week high of $103.00. The company has a 50-day simple moving average of $82.90 and a 200 day simple moving average of $80.59. The company has a market capitalization of $7.19 billion, a PE ratio of -24.49 and a beta of 2.02.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The business had revenue of $34.37 million during the quarter, compared to the consensus estimate of $8.27 million. During the same quarter last year, the company posted ($0.82) earnings per share. The firm's quarterly revenue was up 55.5% compared to the same quarter last year. As a group, analysts forecast that Kymera Therapeutics, Inc. will post -3.25 EPS for the current fiscal year.

Insider Activity at Kymera Therapeutics

In other news, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $81.18, for a total value of $2,435,400.00. Following the completion of the transaction, the chief executive officer owned 666,195 shares in the company, valued at $54,081,710.10. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeremy G. Chadwick sold 4,279 shares of Kymera Therapeutics stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $81.58, for a total transaction of $349,080.82. Following the completion of the transaction, the chief operating officer owned 44,018 shares of the company's stock, valued at $3,590,988.44. The trade was a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 234,357 shares of company stock worth $19,072,496. 15.98% of the stock is currently owned by corporate insiders.

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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