Bank of America Corp DE Has $2.51 Million Stock Holdings in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Bank of America Corp DE lessened its stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 43.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,260 shares of the company's stock after selling 48,772 shares during the period. Bank of America Corp DE owned about 0.10% of Kymera Therapeutics worth $2,505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KYMR. BNP Paribas Financial Markets acquired a new stake in Kymera Therapeutics in the fourth quarter worth about $396,000. Ameriprise Financial Inc. acquired a new stake in Kymera Therapeutics in the fourth quarter worth about $344,000. Boxer Capital Management LLC acquired a new stake in Kymera Therapeutics in the fourth quarter worth about $17,098,000. Soros Fund Management LLC acquired a new stake in Kymera Therapeutics in the fourth quarter worth about $4,843,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Kymera Therapeutics by 20.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 215,480 shares of the company's stock worth $8,669,000 after purchasing an additional 36,294 shares during the period.

Insiders Place Their Bets

In other Kymera Therapeutics news, Director Elena Ridloff sold 12,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total transaction of $553,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey W. Albers sold 6,349 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total value of $311,101.00. The disclosure for this sale can be found here. Insiders sold 48,349 shares of company stock worth $2,334,301 over the last three months. 16.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on KYMR. JPMorgan Chase & Co. upped their price target on shares of Kymera Therapeutics from $57.00 to $64.00 and gave the company an "overweight" rating in a report on Tuesday. UBS Group cut their price target on shares of Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Bank of America raised shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 price target for the company in a report on Monday. Guggenheim reissued a "buy" rating and issued a $52.00 price target on shares of Kymera Therapeutics in a report on Monday, May 12th. Finally, Wall Street Zen raised shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.35.

Kymera Therapeutics Price Performance

NASDAQ:KYMR traded up $3.40 during mid-day trading on Thursday, reaching $47.66. The stock had a trading volume of 1,323,190 shares, compared to its average volume of 608,938. The business's 50 day moving average is $29.81 and its 200 day moving average is $35.74. Kymera Therapeutics, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $53.27. The stock has a market cap of $3.10 billion, a P/E ratio of -20.37 and a beta of 2.07.

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

About Kymera Therapeutics

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.