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

Key Points

• Jennison Associates increased its Kymera Therapeutics stake by 2.5% in the first quarter, bringing its holdings to 508,999 shares worth about $42.4 million.
• Several insiders sold large amounts of stock, including CEO Nello Mainolfi and director Bvf Partners, with total insider sales reaching 3.64 million shares valued at about $390.8 million over the last quarter.
• Analysts remain broadly positive on KYMR, with 20 Buy ratings and an average price target of $122.64; the stock also jumped after reporting quarterly revenue of $34.37 million, well above expectations.

Jennison Associates LLC boosted its position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 508,999 shares of the company's stock after buying an additional 12,334 shares during the period. Jennison Associates LLC owned 0.62% of Kymera Therapeutics worth $42,395,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KYMR. US Bancorp DE boosted its holdings in shares of Kymera Therapeutics by 9.8% in the third quarter. US Bancorp DE now owns 1,865 shares of the company's stock valued at $106,000 after acquiring an additional 166 shares during the period. Larson Financial Group LLC raised its position in Kymera Therapeutics by 36.9% in the 4th quarter. Larson Financial Group LLC now owns 1,064 shares of the company's stock valued at $83,000 after purchasing an additional 287 shares during the last quarter. Keudell Morrison Wealth Management raised its position 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 purchasing an additional 390 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Kymera Therapeutics by 3.3% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 12,655 shares of the company's stock worth $985,000 after purchasing an additional 410 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake 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 purchasing an additional 424 shares during the period.

Insider Buying and Selling

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 50,000 shares of the company's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $119.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $106.50, for a total transaction of $168,142,200.00. Following the completion of the transaction, the director directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,644,113 shares of company stock valued at $390,820,176 in the last quarter. Corporate insiders own 15.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Kymera Therapeutics in a research report on Tuesday, April 21st. Canaccord Genuity Group lifted their target price on Kymera Therapeutics from $106.00 to $129.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Truist Financial boosted their target price on Kymera Therapeutics from $116.00 to $136.00 and gave the company a "buy" rating in a report on Monday, June 29th. Brookline Capital Markets restated a "buy" rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Finally, Wall Street Zen raised Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Twenty analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Kymera Therapeutics has an average rating of "Moderate Buy" and an average price target of $122.64.

Kymera Therapeutics Trading Down 4.1%

NASDAQ KYMR opened at $111.06 on Tuesday. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of -31.11 and a beta of 1.95. The business's 50 day moving average is $94.06 and its two-hundred day moving average is $85.64. Kymera Therapeutics, Inc. has a 12-month low of $36.65 and a 12-month high of $130.05.

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