Jennison Associates LLC Decreases Stock Position in Kymera Therapeutics, Inc. $KYMR

Jennison Associates LLC lowered its stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 51.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 496,665 shares of the company's stock after selling 531,074 shares during the quarter. Jennison Associates LLC owned about 0.69% of Kymera Therapeutics worth $38,646,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. State of New Jersey Common Pension Fund D purchased a new stake in Kymera Therapeutics in the 4th quarter worth $2,610,000. Moody Aldrich Partners LLC lifted its stake in Kymera Therapeutics by 33.3% in the 4th quarter. Moody Aldrich Partners LLC now owns 38,535 shares of the company's stock worth $2,998,000 after purchasing an additional 9,625 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Kymera Therapeutics by 39.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 483,199 shares of the company's stock worth $37,791,000 after purchasing an additional 136,382 shares in the last quarter. UBS Group AG lifted its stake in Kymera Therapeutics by 13.6% in the 4th quarter. UBS Group AG now owns 737,032 shares of the company's stock worth $57,348,000 after purchasing an additional 88,314 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Kymera Therapeutics by 15.6% in the 4th quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company's stock worth $487,685,000 after purchasing an additional 845,922 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on KYMR. Citigroup boosted their price target on shares of Kymera Therapeutics from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Stephens boosted their price target on shares of Kymera Therapeutics from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Kymera Therapeutics in a research report on Tuesday, April 21st. Royal Bank Of Canada restated an "outperform" rating and set a $108.00 target price on shares of Kymera Therapeutics in a research report on Thursday, February 26th. Finally, BTIG Research decreased their target price on shares of Kymera Therapeutics from $138.00 to $134.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $118.70.

Insider Buying and Selling at Kymera Therapeutics

In other news, COO Jeremy G. Chadwick sold 300 shares of the company's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $90.00, for a total transaction of $27,000.00. Following the sale, the chief operating officer directly owned 61,202 shares in the company, valued at approximately $5,508,180. This represents a 0.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce Booth sold 5,900 shares of the company's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $89.96, for a total transaction of $530,764.00. Following the transaction, the director owned 5,641 shares in the company, valued at $507,464.36. The trade was a 51.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 380,734 shares of company stock valued at $32,193,902 over the last quarter. 16.01% of the stock is owned by corporate insiders.

Kymera Therapeutics Trading Down 0.4%

Shares of NASDAQ KYMR opened at $80.71 on Friday. The firm's 50-day moving average price is $84.52 and its 200-day moving average price is $76.23. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of -21.93 and a beta of 2.06. Kymera Therapeutics, Inc. has a 12-month low of $28.06 and a 12-month high of $103.00.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.18. The firm had revenue of $34.37 million for the quarter, compared to analysts' expectations of $8.27 million. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 26.69%. The business's revenue was up 55.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.82) EPS. On average, equities analysts predict that Kymera Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Kymera Therapeutics 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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