Kymera Therapeutics, Inc. $KYMR Shares Sold by California State Teachers Retirement System

Key Points

• Institutional ownership shifted: California State Teachers Retirement System reduced its Kymera Therapeutics stake by 3.3% to 54,429 shares, while BlackRock, Merck, Deutsche Bank and Eagle Health Investments established or expanded positions.
• Kymera reported stronger-than-expected results: The company posted quarterly revenue of $65 million, up 465.2% year over year, and an adjusted loss of $0.62 per share versus the consensus estimate of a $0.71 loss. Despite growth, it remains unprofitable, with a negative net margin of 285.33%.
• Analyst sentiment remains positive, but insiders sold heavily: The stock has a “Moderate Buy” consensus rating and a $131.62 average price target, while insiders sold approximately 3.59 million shares worth $386.9 million over the past quarter.

California State Teachers Retirement System cut its stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,429 shares of the company's stock after selling 1,853 shares during the quarter. California State Teachers Retirement System owned approximately 0.07% of Kymera Therapeutics worth $6,241,373 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Merck & Co. Inc. acquired a new position in Kymera Therapeutics during the 2nd quarter worth approximately $88,544,161. Deutsche Bank AG bought a new position in Kymera Therapeutics during the second quarter valued at $12,161,000. Eagle Health Investments LP bought a new position in shares of Kymera Therapeutics in the second quarter worth approximately $19,052,000. BlackRock Inc. bought a new stake in Kymera Therapeutics in the 2nd quarter worth approximately $635,067,000. Finally, Maven Securities LTD bought a new stake in Kymera Therapeutics during the fourth quarter valued at about $1,167,000.

Kymera Therapeutics Stock Performance

Shares of KYMR traded down $1.28 during midday trading on Tuesday, hitting $113.35. 286,052 shares of the company traded hands, compared to its average volume of 728,598. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of -34.98 and a beta of 1.96. Kymera Therapeutics, Inc. has a 52 week low of $47.86 and a 52 week high of $130.05. The firm has a 50 day moving average of $114.48 and a 200-day moving average of $96.20.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.09. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The firm had revenue of $65.00 million during the quarter, compared to analyst estimates of $32.78 million. During the same period in the previous year, the firm earned ($0.95) EPS. The business's quarterly revenue was up 465.2% on a year-over-year basis. Sell-side analysts predict that Kymera Therapeutics, Inc. will post -3.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bvf Partners L. P/Il sold 1,578,800 shares of the firm's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $106.50, for a total transaction of $168,142,200.00. Following the sale, the director owned 240,123 shares of the company's stock, valued at approximately $25,573,099.50. This trade represents a 86.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce Booth sold 467,878 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $110.29, for a total value of $51,602,264.62. Following the transaction, the director owned 472,267 shares in the company, valued at $52,086,327.43. The trade was a 49.77% 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. Over the last quarter, insiders have sold 3,594,000 shares of company stock worth $386,928,106. Insiders own 15.98% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on KYMR shares. Loop Capital set a $97.00 price target on shares of Kymera Therapeutics in a research note on Monday, June 8th. Wells Fargo & Company increased their target price on Kymera Therapeutics from $116.00 to $151.00 and gave the stock an "overweight" rating in a research report on Thursday, August 27th. Royal Bank Of Canada lowered shares of Kymera Therapeutics from an "outperform" rating to a "sector perform" rating and lifted their target price for the company from $106.00 to $115.00 in a research note on Monday, July 13th. Citigroup reaffirmed a "buy" rating on shares of Kymera Therapeutics in a report on Thursday, August 6th. Finally, Mizuho increased their price objective on Kymera Therapeutics from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $131.62.

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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