Kymera Therapeutics, Inc. $KYMR Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Kymera Therapeutics stake by 14.6% in the first quarter, selling 49,583 shares and retaining 289,416 shares valued at approximately $24.1 million.
• Kymera shares opened at $121.41, up 3.4%, after the company reported a quarterly loss of $0.62 per share—better than estimates—and revenue of $65 million, up 465.2% year over year.
• Analysts remain broadly positive, with 20 Buy ratings, two Holds and one Sell, producing a “Moderate Buy” consensus and an average price target of $125.65. However, company insiders sold roughly $387.6 million in shares during the latest quarter.

Bank of America Corp DE decreased its position in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 289,416 shares of the company's stock after selling 49,583 shares during the period. Bank of America Corp DE owned about 0.35% of Kymera Therapeutics worth $24,105,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position 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. Larson Financial Group LLC raised its position in Kymera Therapeutics by 81.5% in the third quarter. Larson Financial Group LLC now owns 777 shares of the company's stock worth $44,000 after acquiring an additional 349 shares in the last quarter. Osaic Holdings Inc. raised its position in Kymera Therapeutics by 18,050.0% in the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock worth $48,000 after acquiring an additional 1,083 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Kymera Therapeutics in the fourth quarter valued at $63,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Kymera Therapeutics during the 2nd quarter worth $73,000.

Kymera Therapeutics Stock Up 3.4%

Shares of Kymera Therapeutics stock opened at $121.41 on Tuesday. Kymera Therapeutics, Inc. has a fifty-two week low of $39.84 and a fifty-two week high of $130.05. The firm has a market cap of $10.10 billion, a PE ratio of -37.47 and a beta of 1.95. The business's fifty day moving average is $106.11 and its two-hundred day moving average is $90.76.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, beating analysts' consensus estimates of ($0.71) by $0.09. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The business had revenue of $65.00 million during the quarter, compared to the consensus estimate of $32.78 million. The business's revenue for the quarter was up 465.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.95) earnings per share. Equities research analysts anticipate that Kymera Therapeutics, Inc. will post -3.78 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays boosted their target price on Kymera Therapeutics from $133.00 to $139.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Canaccord Genuity Group raised their price target on Kymera Therapeutics from $106.00 to $129.00 and gave the company a "buy" rating in a research report on Friday, June 26th. BTIG Research reaffirmed a "buy" rating and set a $134.00 price target on shares of Kymera Therapeutics in a research note on Thursday, June 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kymera Therapeutics in a research report on Friday, July 17th. Finally, Guggenheim increased their price objective on shares of Kymera Therapeutics from $125.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $125.65.

Insider Transactions at Kymera Therapeutics

In other Kymera Therapeutics news, CFO Bruce N. Jacobs sold 77,109 shares of Kymera Therapeutics stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $114.96, for a total value of $8,864,450.64. Following the transaction, the chief financial officer owned 244,883 shares in the company, valued at $28,151,749.68. This trade represents a 23.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nello Mainolfi sold 50,000 shares of the business's stock in a transaction on 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 sale, the chief executive officer directly owned 666,568 shares of the company's stock, valued at $79,321,592. This represents a 6.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,604,813 shares of company stock valued at $387,557,004 in the last quarter. Insiders own 15.98% of the company's stock.

About Kymera Therapeutics

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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