Massachusetts Financial Services Co. MA Cuts Stake in Kymera Therapeutics, Inc. $KYMR

Key Points

• Massachusetts Financial Services cut its stake in Kymera by 33.5% in Q4, leaving it with 289,404 shares worth about $22.52 million.
• Company insiders have been net sellers recently—327,042 shares sold (~$27.63 million) over the last 90 days, including sales by COO Jeremy Chadwick and insider Noah Goodman, with insiders owning 16.01% of the stock.
• Q4 results disappointed: Kymera missed EPS and revenue fell 60.8% year-over-year to $2.87 million, while sell-side analysts still show a consensus "Moderate Buy" and an average price target of roughly $118.90.

Massachusetts Financial Services Co. MA reduced its stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 33.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,404 shares of the company's stock after selling 145,610 shares during the period. Massachusetts Financial Services Co. MA owned 0.40% of Kymera Therapeutics worth $22,519,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of KYMR. Larson Financial Group LLC lifted its holdings in shares of Kymera Therapeutics by 81.5% during the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company's stock worth $44,000 after acquiring an additional 349 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Kymera Therapeutics by 18,050.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock worth $48,000 after acquiring an additional 1,083 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Kymera Therapeutics by 652.0% during the 3rd quarter. Bessemer Group Inc. now owns 940 shares of the company's stock worth $53,000 after acquiring an additional 815 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Kymera Therapeutics during the 2nd quarter worth about $73,000. Finally, US Bancorp DE lifted its holdings in shares of Kymera Therapeutics by 9.8% during the 3rd quarter. US Bancorp DE now owns 1,865 shares of the company's stock worth $106,000 after acquiring an additional 166 shares during the period.

Analyst Ratings Changes

Several brokerages have recently weighed in on KYMR. Jefferies Financial Group began coverage on shares of Kymera Therapeutics in a report on Monday, March 16th. They set a "buy" rating and a $110.00 price objective on the stock. Wall Street Zen lowered shares of Kymera Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. Citigroup raised their price target on shares of Kymera Therapeutics from $110.00 to $120.00 and gave the company a "buy" rating in a report on Monday, March 2nd. UBS Group raised their price target on shares of Kymera Therapeutics from $90.00 to $128.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Finally, Piper Sandler raised their price target on shares of Kymera Therapeutics from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Kymera Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $118.90.

Insider Activity

In other news, insider Noah Goodman sold 2,000 shares of Kymera Therapeutics stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $87.35, for a total transaction of $174,700.00. Following the sale, the insider owned 51,542 shares in the company, valued at $4,502,193.70. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jeremy G. Chadwick sold 14,640 shares of Kymera Therapeutics stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $85.46, for a total transaction of $1,251,134.40. Following the sale, the chief operating officer owned 61,202 shares in the company, valued at $5,230,322.92. This represents a 19.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 327,042 shares of company stock worth $27,626,372 over the last 90 days. Company insiders own 16.01% of the company's stock.

Kymera Therapeutics Stock Performance

NASDAQ KYMR opened at $89.00 on Thursday. Kymera Therapeutics, Inc. has a one year low of $24.42 and a one year high of $103.00. The company's 50 day moving average price is $83.69 and its 200 day moving average price is $74.15. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of -24.18 and a beta of 2.28.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.20). Kymera Therapeutics had a negative net margin of 794.04% and a negative return on equity of 28.71%. The business had revenue of $2.87 million during the quarter, compared to analysts' expectations of $14.80 million. During the same quarter in the previous year, the business posted ($0.88) EPS. The company's quarterly revenue was down 60.8% on a year-over-year basis. Sell-side analysts forecast that Kymera Therapeutics, Inc. will post -2.79 EPS 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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