Bank of America Corp DE Takes Position in Kymera Therapeutics, Inc. $KYMR

Bank of America Corp DE acquired a new position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 378,286 shares of the company's stock, valued at approximately $43,378,000. Bank of America Corp DE owned 0.45% of Kymera Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Boone Capital Management LLC bought a new stake in Kymera Therapeutics in the second quarter worth approximately $12,978,000. Freestone Grove Partners LP bought a new position in shares of Kymera Therapeutics during the 2nd quarter worth approximately $2,428,000. Odyssean LLC grew its position in shares of Kymera Therapeutics by 132.7% during the 2nd quarter. Odyssean LLC now owns 34,485 shares of the company's stock worth $3,954,000 after buying an additional 19,664 shares during the period. Man Group plc acquired a new stake in shares of Kymera Therapeutics during the 2nd quarter worth approximately $2,188,000. Finally, Jupiter Topco LLC bought a new stake in shares of Kymera Therapeutics in the 2nd quarter valued at $2,415,000.

Insiders Place Their Bets

In other Kymera Therapeutics news, Director Bruce Booth sold 31,283 shares of the company's stock in a transaction dated 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 sale, the director directly owned 461,794 shares of the company's stock, valued at $50,557,207.12. This represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Adams sold 6,371 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $116.83, for a total transaction of $744,323.93. Following the transaction, the insider owned 50,254 shares of the company's stock, valued at $5,871,174.82. This represents a 11.25% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 3,080,096 shares of company stock worth $337,948,342 in the last ninety days. 15.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KYMR shares. Citigroup reissued a "buy" rating on shares of Kymera Therapeutics in a research report on Thursday, August 6th. Truist Financial upped their price target on Kymera Therapeutics from $116.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Mizuho raised their price objective on shares of Kymera Therapeutics from $120.00 to $140.00 and gave the company an "outperform" rating in a research note on Thursday, July 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kymera Therapeutics in a report on Friday, July 17th. Finally, Oppenheimer reissued an "outperform" rating and issued a $125.00 price target on shares of Kymera Therapeutics in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $131.62.

Kymera Therapeutics Trading Down 0.1%

NASDAQ:KYMR opened at $117.67 on Tuesday. The stock has a market capitalization of $9.78 billion, a PE ratio of -36.32 and a beta of 1.96. The firm's 50 day moving average is $114.50 and its 200 day moving average is $97.12. Kymera Therapeutics, Inc. has a 12 month low of $47.90 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) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.71) by $0.09. The business had revenue of $65.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted ($0.95) earnings per share. Research analysts predict that Kymera Therapeutics, Inc. will post -3.83 earnings per share for the current year.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively remove disease-causing proteins from cells. The company's approach is based on targeted protein degradation, which uses small-molecule degraders to direct unwanted proteins to the cell's natural disposal system rather than simply blocking their activity.

Kymera's research and development activities are supported by its proprietary Pegasus platform, which is designed to identify degradable proteins and create drug candidates against them.

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