California State Teachers Retirement System Increases Stake in Kymera Therapeutics, Inc. $KYMR

Key Points

• California State Teachers Retirement System increased its Kymera Therapeutics stake by 23% in the first quarter, acquiring 10,540 additional shares and ending the period with 56,282 shares valued at approximately $4.7 million.
• Analyst sentiment remains favorable, with 20 Buy ratings, two Holds and one Sell; Kymera has a “Moderate Buy” consensus rating and an average price target of $125.65.
• Kymera exceeded quarterly expectations, reporting an adjusted loss of $0.62 per share versus the $0.71 consensus estimate and revenue of $65 million, up 465.2% year over year. However, insiders sold more than 3.6 million shares worth roughly $387.8 million over the past three months.

California State Teachers Retirement System increased its position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 23.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,282 shares of the company's stock after buying an additional 10,540 shares during the period. California State Teachers Retirement System owned about 0.07% of Kymera Therapeutics worth $4,688,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in Kymera Therapeutics by 382.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the company's stock worth $42,000 after buying an additional 424 shares during the last quarter. Larson Financial Group LLC raised its stake in Kymera Therapeutics by 81.5% during the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company's stock worth $44,000 after acquiring an additional 349 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Kymera Therapeutics by 18,050.0% in the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock valued at $48,000 after acquiring an additional 1,083 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Kymera Therapeutics during the fourth quarter worth about $63,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Kymera Therapeutics during the second quarter worth about $73,000.

Analyst Ratings Changes

A number of equities analysts have commented on KYMR shares. Wall Street Zen upgraded shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Kymera Therapeutics in a research note on Thursday, July 30th. They issued a "hold" rating and a $120.00 price objective on the stock. Truist Financial lifted their price target on shares of Kymera Therapeutics from $116.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Brookline Capital Markets restated a "buy" rating on shares of Kymera Therapeutics in a report on Monday, June 8th. Finally, B. Riley Financial lifted their price target on shares of Kymera Therapeutics from $117.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Kymera Therapeutics has an average rating of "Moderate Buy" and an average target price of $125.65.

Kymera Therapeutics Price Performance

KYMR stock opened at $107.52 on Friday. The firm has a market capitalization of $8.94 billion, a P/E ratio of -33.19 and a beta of 1.95. Kymera Therapeutics, Inc. has a 52-week low of $36.65 and a 52-week high of $130.05. The company's 50 day simple moving average is $101.31 and its 200-day simple moving average is $88.79.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.09. The firm had revenue of $65.00 million for the quarter, compared to analysts' expectations of $32.78 million. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.82%. The company's quarterly revenue was up 465.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.95) EPS. Sell-side analysts predict that Kymera Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Bruce N. Jacobs sold 77,109 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $114.96, for a total value of $8,864,450.64. Following the completion of the sale, the chief financial officer directly owned 244,883 shares of the company's stock, valued at approximately $28,151,749.68. This represents a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of the company's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $106.50, for a total value of $168,142,200.00. Following the completion of the transaction, the director owned 240,123 shares of the company's stock, valued at $25,573,099.50. The trade was a 86.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,607,813 shares of company stock valued at $387,818,004 in the last three months. 15.98% of the stock is owned by corporate insiders.

Kymera Therapeutics Company 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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