California State Teachers Retirement System Raises Stock Position in Kymera Therapeutics, Inc. $KYMR

Key Points

• California State Teachers Retirement System increased its Kymera Therapeutics holdings by 10,989.5% in the second quarter, owning 6.24 million shares worth approximately $715.7 million, or 7.51% of the company.
• Kymera reported quarterly revenue of $65 million, up 465.2% year over year, and an adjusted loss of $0.62 per share that beat analyst expectations. The company remains unprofitable, with analysts forecasting a full-year loss of $3.83 per share.
• Insiders sold approximately 3.59 million shares worth $386.9 million over the past three months, while Wall Street maintained a “Moderate Buy” consensus rating with an average price target of $130.83.

California State Teachers Retirement System raised its holdings in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 10,989.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,241,373 shares of the company's stock after acquiring an additional 6,185,091 shares during the quarter. California State Teachers Retirement System owned approximately 7.51% of Kymera Therapeutics worth $715,698,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Kymera Therapeutics by 27.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $52,000 after buying an additional 98 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Kymera Therapeutics by 382.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the company's stock worth $42,000 after purchasing an additional 424 shares in the last quarter. Larson Financial Group LLC lifted its stake in Kymera Therapeutics by 81.5% in the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company's stock worth $44,000 after purchasing an additional 349 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Kymera Therapeutics during the 4th quarter valued at about $63,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Kymera Therapeutics by 18,050.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock valued at $48,000 after purchasing an additional 1,083 shares during the last quarter.

Insider Buying and Selling

In other Kymera Therapeutics news, Director Bruce Booth sold 31,283 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $109.48, for a total transaction of $3,424,862.84. Following the completion of the transaction, the director owned 461,794 shares in the company, valued at $50,557,207.12. The trade was a 6.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nello Mainolfi sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $119.00, for a total value of $5,950,000.00. Following the transaction, the chief executive officer directly owned 666,568 shares in the company, valued at approximately $79,321,592. This represents a 6.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,594,000 shares of company stock worth $386,928,106 over the last three months. 15.98% of the stock is currently owned by company insiders.

Kymera Therapeutics Stock Performance

Shares of Kymera Therapeutics stock opened at $114.96 on Monday. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of -35.48 and a beta of 1.96. The stock has a 50 day moving average price of $114.48 and a 200-day moving average price of $96.03. Kymera Therapeutics, Inc. has a one year low of $45.84 and a one year high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, topping 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 company 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) earnings per share. Kymera Therapeutics's quarterly revenue was up 465.2% compared to the same quarter last year. Sell-side analysts predict that Kymera Therapeutics, Inc. will post -3.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on KYMR shares. TD Cowen raised Kymera Therapeutics to a "strong-buy" rating in a report on Monday, August 24th. Barclays increased their price target on Kymera Therapeutics from $133.00 to $139.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Brookline Capital Markets restated a "buy" rating on shares of Kymera Therapeutics in a report on Monday, June 8th. Bank of America lifted their price objective on Kymera Therapeutics from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Finally, Loop Capital set a $97.00 target price on Kymera Therapeutics in a research report on Monday, June 8th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $130.83.

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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