Jennison Associates LLC Cuts Stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Jennison Associates LLC cut its holdings in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 23.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 552,286 shares of the company's stock after selling 164,647 shares during the quarter. Jennison Associates LLC owned about 0.85% of Kymera Therapeutics worth $15,116,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp grew its position in Kymera Therapeutics by 14.0% in the 4th quarter. Northern Trust Corp now owns 437,833 shares of the company's stock valued at $17,614,000 after buying an additional 53,658 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Kymera Therapeutics in the fourth quarter valued at about $344,000. GAMMA Investing LLC boosted its holdings in shares of Kymera Therapeutics by 3,851.5% in the first quarter. GAMMA Investing LLC now owns 6,678 shares of the company's stock valued at $183,000 after acquiring an additional 6,509 shares in the last quarter. Millennium Management LLC increased its stake in shares of Kymera Therapeutics by 205.0% during the fourth quarter. Millennium Management LLC now owns 115,918 shares of the company's stock worth $4,663,000 after acquiring an additional 77,912 shares during the period. Finally, Rhumbline Advisers raised its holdings in Kymera Therapeutics by 9.0% during the first quarter. Rhumbline Advisers now owns 69,928 shares of the company's stock worth $1,914,000 after purchasing an additional 5,771 shares in the last quarter.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Elena Ridloff sold 12,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total value of $553,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bvf Partners L. P/Il acquired 317,167 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were acquired at an average price of $44.00 per share, for a total transaction of $13,955,348.00. Following the acquisition, the director directly owned 2,798,795 shares of the company's stock, valued at approximately $123,146,980. The trade was a 12.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 48,349 shares of company stock worth $2,334,301 over the last three months. Company insiders own 16.01% of the company's stock.

Wall Street Analysts Forecast Growth

KYMR has been the topic of a number of analyst reports. Bank of America raised Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 price objective on the stock in a report on Monday, June 2nd. BTIG Research reaffirmed a "buy" rating and set a $59.00 price objective on shares of Kymera Therapeutics in a report on Thursday, June 26th. UBS Group cut their price objective on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their target price on shares of Kymera Therapeutics from $57.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Finally, HC Wainwright reiterated a "buy" rating and issued a $60.00 price target (up previously from $54.00) on shares of Kymera Therapeutics in a report on Thursday, June 26th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $59.11.

Kymera Therapeutics Price Performance

NASDAQ:KYMR traded down $0.58 during trading hours on Thursday, reaching $45.85. 296,915 shares of the company traded hands, compared to its average volume of 828,480. The firm's 50-day moving average is $42.19 and its 200-day moving average is $36.39. The stock has a market cap of $2.99 billion, a P/E ratio of -14.79 and a beta of 2.18. Kymera Therapeutics, Inc. has a 1-year low of $19.44 and a 1-year high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating analysts' consensus estimates of ($0.92) by $0.10. The business had revenue of $22.10 million for the quarter, compared to analyst estimates of $11.38 million. Kymera Therapeutics had a negative return on equity of 30.11% and a negative net margin of 409.07%. The business's revenue for the quarter was up 114.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.69) earnings per share. As a group, research analysts predict that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Kymera Therapeutics Profile

Kymera Therapeutics, Inc, a biopharmaceutical company, focuses on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system. It engages in developing IRAK4 program, which is in Phase II clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors.