Russell Investments Group Ltd. Buys 23,584 Shares of Kymera Therapeutics, Inc. $KYMR

Key Points

• Russell Investments Group Ltd. increased its stake in Kymera Therapeutics by 40% in Q1, owning 82,507 shares valued at approximately $2.26 million.
• Kymera Therapeutics reported a quarterly loss of ($0.95) EPS, missing estimates, with significant revenue decline of 55.1% from the previous year.
• Analyst ratings for Kymera Therapeutics are predominantly positive, with a consensus rating of Buy and a target price of $58.76.

Russell Investments Group Ltd. raised its position in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 40.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,507 shares of the company's stock after buying an additional 23,584 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of Kymera Therapeutics worth $2,258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Kymera Therapeutics by 7.0% in the first quarter. Vanguard Group Inc. now owns 5,231,392 shares of the company's stock valued at $143,183,000 after buying an additional 344,080 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Kymera Therapeutics by 4.6% in the fourth quarter. Driehaus Capital Management LLC now owns 1,390,372 shares of the company's stock valued at $55,935,000 after buying an additional 61,669 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Kymera Therapeutics in the fourth quarter valued at $23,856,000. Woodline Partners LP raised its stake in shares of Kymera Therapeutics by 2.3% in the fourth quarter. Woodline Partners LP now owns 537,428 shares of the company's stock valued at $21,621,000 after buying an additional 12,334 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Kymera Therapeutics by 14.0% in the fourth 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 period.

Kymera Therapeutics Stock Performance

Kymera Therapeutics stock traded down $0.55 during midday trading on Friday, hitting $41.20. 596,284 shares of the company's stock were exchanged, compared to its average volume of 641,875. Kymera Therapeutics, Inc. has a 52-week low of $19.44 and a 52-week high of $53.27. The stock has a 50-day moving average price of $43.75 and a two-hundred day moving average price of $36.80. The company has a market cap of $2.95 billion, a P/E ratio of -11.87 and a beta of 2.18.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.12). Kymera Therapeutics had a negative return on equity of 31.60% and a negative net margin of 616.03%.The business had revenue of $11.48 million for the quarter, compared to analysts' expectations of $17.37 million. During the same quarter in the previous year, the firm earned ($0.58) earnings per share. Kymera Therapeutics's quarterly revenue was down 55.1% compared to the same quarter last year. As a group, sell-side analysts expect that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity

In other news, Director Jeffrey W. Albers sold 6,349 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $311,101.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bvf Partners L. P/Il purchased 317,167 shares of Kymera Therapeutics stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of $44.00 per share, for a total transaction of $13,955,348.00. Following the completion of the transaction, the director owned 2,798,795 shares in the company, valued at $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. In the last three months, insiders sold 48,349 shares of company stock worth $2,334,301. 16.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Guggenheim restated a "buy" rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research note on Tuesday, June 3rd. B. Riley upgraded Kymera Therapeutics to a "strong-buy" rating and set a $60.00 target price on the stock in a research note on Wednesday, July 30th. Bank of America upgraded Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 price objective on the stock in a research note on Monday, June 2nd. Wells Fargo & Company decreased their price objective on Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Finally, Morgan Stanley began coverage on Kymera Therapeutics in a research note on Thursday, July 3rd. They set an "overweight" rating and a $70.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $58.76.

About Kymera Therapeutics

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.