Fifth Third Bancorp Takes Position in Kymera Therapeutics, Inc. $KYMR

Key Points

• Fifth Third Bancorp disclosed a new first-quarter position in Kymera Therapeutics, buying 51,238 shares worth about $4.27 million.
• Insider activity was heavily skewed toward selling: Director Bruce Booth sold 467,878 shares and CEO Nello Mainolfi sold 80,000 shares, with insiders selling 3.64 million shares worth about $390.8 million in the last quarter.
• Kymera shares were trading near $115.77 after the company beat quarterly earnings and revenue expectations, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $122.64.

Fifth Third Bancorp purchased a new stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 51,238 shares of the company's stock, valued at approximately $4,268,000. Fifth Third Bancorp owned about 0.06% of Kymera Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Keudell Morrison Wealth Management grew its holdings in Kymera Therapeutics by 5.9% in the 1st quarter. Keudell Morrison Wealth Management now owns 6,990 shares of the company's stock valued at $582,000 after buying an additional 390 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Kymera Therapeutics by 21,538.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 25,533 shares of the company's stock valued at $1,987,000 after acquiring an additional 25,415 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Kymera Therapeutics during the 4th quarter valued at about $198,000. Virtu Financial LLC purchased a new stake in shares of Kymera Therapeutics in the fourth quarter valued at about $2,123,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Kymera Therapeutics by 3.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 629,745 shares of the company's stock valued at $49,001,000 after purchasing an additional 18,524 shares during the period.

Insider Activity at Kymera Therapeutics

In related news, Director Bruce Booth sold 467,878 shares of Kymera Therapeutics stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $110.29, for a total value of $51,602,264.62. Following the completion of the sale, the director owned 472,267 shares in the company, valued at approximately $52,086,327.43. This trade represents a 49.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nello Mainolfi sold 80,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $115.29, for a total value of $9,223,200.00. Following the completion of the sale, the chief executive officer directly owned 666,568 shares in the company, valued at approximately $76,848,624.72. The trade was a 10.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,644,113 shares of company stock valued at $390,820,176. 15.98% of the stock is owned by insiders.

Kymera Therapeutics Trading Up 1.6%

Shares of KYMR opened at $115.77 on Friday. The firm has a market cap of $9.52 billion, a P/E ratio of -32.43 and a beta of 1.95. Kymera Therapeutics, Inc. has a 12-month low of $36.65 and a 12-month high of $130.05. The company's 50-day moving average price is $93.52 and its 200 day moving average price is $85.37.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported ($0.71) EPS for the quarter, beating analysts' consensus estimates of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The company had revenue of $34.37 million for the quarter, compared to analysts' expectations of $8.27 million. During the same quarter in the prior year, the company posted ($0.82) earnings per share. Kymera Therapeutics's revenue for the quarter was up 55.5% compared to the same quarter last year. Equities research analysts forecast that Kymera Therapeutics, Inc. will post -3.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KYMR shares. BTIG Research restated a "buy" rating and set a $134.00 price objective on shares of Kymera Therapeutics in a research report on Thursday, June 25th. Loop Capital set a $97.00 price target on shares of Kymera Therapeutics in a research note on Monday, June 8th. Wall Street Zen raised shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Kymera Therapeutics in a report on Tuesday, April 21st. Finally, Canaccord Genuity Group lifted their price target on shares of Kymera Therapeutics from $106.00 to $129.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Twenty equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $122.64.

About Kymera Therapeutics

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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