Siren L.L.C. Has $88.69 Million Stake in Kymera Therapeutics, Inc. $KYMR

Key Points

• Siren L.L.C. increased its stake in Kymera Therapeutics by 9.1%, owning over 3.24 million shares, making it the company's third-largest holding.
• Analysts have set a consensus price target of $58.76 for Kymera, with several firms issuing upgraded ratings, including Bank of America and Jefferies Financial Group.
• Kymera Therapeutics reported a negative EPS of ($0.95) for the last quarter, missing analyst estimates, and experienced a significant decline in revenue compared to the previous year.

Siren L.L.C. boosted its stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,240,313 shares of the company's stock after buying an additional 270,580 shares during the quarter. Kymera Therapeutics makes up about 5.1% of Siren L.L.C.'s investment portfolio, making the stock its 3rd largest position. Siren L.L.C. owned 4.98% of Kymera Therapeutics worth $88,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. KBC Group NV boosted its position in shares of Kymera Therapeutics by 15.2% during the first quarter. KBC Group NV now owns 2,479 shares of the company's stock worth $68,000 after purchasing an additional 328 shares in the last quarter. Comerica Bank grew its holdings in shares of Kymera Therapeutics by 3.6% in the 1st quarter. Comerica Bank now owns 21,374 shares of the company's stock valued at $585,000 after acquiring an additional 743 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Kymera Therapeutics by 6.1% during the 1st quarter. Hsbc Holdings PLC now owns 18,547 shares of the company's stock worth $508,000 after purchasing an additional 1,064 shares during the last quarter. State of Wyoming acquired a new stake in Kymera Therapeutics in the fourth quarter valued at $45,000. Finally, GF Fund Management CO. LTD. acquired a new position in Kymera Therapeutics during the fourth quarter worth approximately $55,000.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Kymera Therapeutics from $57.00 to $64.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Wells Fargo & Company reduced their price target on shares of Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Jefferies Financial Group set a $64.00 price target on shares of Kymera Therapeutics and gave the stock a "buy" rating in a report on Wednesday, June 25th. Oppenheimer reaffirmed an "outperform" rating and issued a $53.00 price objective (down from $56.00) on shares of Kymera Therapeutics in a research note on Friday, June 27th. Finally, Stifel Nicolaus began coverage on Kymera Therapeutics in a research note on Tuesday, May 20th. They set a "buy" rating and a $55.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Kymera Therapeutics has an average rating of "Buy" and a consensus price target of $58.76.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Bvf Partners L. P/Il purchased 317,167 shares of the firm's stock in a transaction on Monday, June 30th. The shares were acquired at an average cost 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 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 655,500 shares of the business's stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $44.00 per share, with a total value of $28,842,000.00. Following the acquisition, the director directly owned 6,117,295 shares of the company's stock, valued at $269,160,980. This trade represents a 12.00% increase in their position. The disclosure for this purchase can be found here. 16.01% of the stock is owned by company insiders.

Kymera Therapeutics Stock Performance

KYMR traded up $0.79 during midday trading on Friday, hitting $46.99. The stock had a trading volume of 579,312 shares, compared to its average volume of 598,355. Kymera Therapeutics, Inc. has a 1 year low of $19.44 and a 1 year high of $53.27. The business has a fifty day moving average of $43.40 and a 200 day moving average of $37.28. The company has a market cap of $3.36 billion, a P/E ratio of -13.54 and a beta of 2.17.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.95) earnings per share (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 during the quarter, compared to the consensus estimate of $17.37 million. During the same period in the previous year, the business earned ($0.58) earnings per share. The firm's revenue for the quarter was down 55.1% compared to the same quarter last year. On average, equities research analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

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.