Merck & Co. Inc. Takes Position in Kymera Therapeutics, Inc. $KYMR

Key Points

• Merck & Co. acquired 772,165 Kymera Therapeutics shares during the second quarter, representing a 0.94% stake and making KYMR its third-largest portfolio holding.
• Kymera insiders sold 3.6 million shares worth approximately $387.6 million over the past three months, including significant sales by the CFO and CEO.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $125.65. The company recently beat quarterly loss estimates and reported revenue of $65 million, up 465.2% year over year.

Merck & Co. Inc. acquired a new position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 772,165 shares of the company's stock, valued at approximately $88,544,161,000. Kymera Therapeutics comprises 16.8% of Merck & Co. Inc.'s investment portfolio, making the stock its 3rd largest holding. Merck & Co. Inc. owned 0.94% of Kymera Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of KYMR. Smartleaf Asset Management LLC raised its position in Kymera Therapeutics by 382.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the company's stock valued at $42,000 after purchasing an additional 424 shares during the period. Larson Financial Group LLC increased its position 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 purchasing an additional 349 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Kymera Therapeutics by 18,050.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock valued at $48,000 after buying an additional 1,083 shares during the period. GAMMA Investing LLC lifted its position in Kymera Therapeutics by 27.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $52,000 after buying an additional 98 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Kymera Therapeutics during the fourth quarter worth about $63,000.

Insiders Place Their Bets

In related news, CFO Bruce N. Jacobs sold 77,109 shares of the stock in a transaction on Tuesday, June 30th. The stock was 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 of the company's stock, valued at $28,151,749.68. This represents a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Nello Mainolfi sold 50,000 shares of the firm's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $119.00, for a total value of $5,950,000.00. Following the completion of the sale, the chief executive officer owned 666,568 shares in the company, valued at approximately $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. In the last three months, insiders sold 3,604,813 shares of company stock worth $387,557,004. 15.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KYMR shares. Oppenheimer restated an "outperform" rating and issued a $125.00 price objective on shares of Kymera Therapeutics in a report on Wednesday, August 5th. Royal Bank Of Canada lowered Kymera Therapeutics from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $106.00 to $115.00 in a research report on Monday, July 13th. Wall Street Zen upgraded Kymera Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Brookline Capital Markets reaffirmed a "buy" rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Finally, Mizuho boosted their price objective on Kymera Therapeutics from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $125.65.

Kymera Therapeutics Price Performance

KYMR opened at $121.41 on Tuesday. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of -37.47 and a beta of 1.95. The business has a fifty day moving average price of $106.11 and a 200 day moving average price of $90.76. Kymera Therapeutics, Inc. has a 12 month low of $39.84 and a 12 month high of $130.05.

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, topping analysts' consensus estimates of ($0.71) by $0.09. The business had revenue of $65.00 million during the quarter, compared to the consensus estimate of $32.78 million. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The business's revenue for the quarter was up 465.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.95) earnings per share. On average, research analysts anticipate that Kymera Therapeutics, Inc. will post -3.78 earnings per share for the current year.

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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