Monashee Investment Management LLC Acquires New Holdings in Kymera Therapeutics, Inc. $KYMR

Key Points

• Monashee Investment Management opened a new position in Kymera Therapeutics, buying 100,000 shares worth about $7.78 million. The stake represented roughly 4.4% of Monashee’s portfolio and about 0.14% of Kymera’s outstanding shares.
• Kymera reported better-than-expected first-quarter results, posting a smaller-than-forecast loss of $0.71 per share and revenue of $34.37 million, well above estimates. Revenue rose 55.5% year over year, though the company still posted negative margins.
• Analysts remain generally bullish on KYMR, with a Moderate Buy consensus and an average price target of $117.14. Recent commentary included buy/overweight ratings from Canaccord Genuity and Morgan Stanley, even as some analysts maintained more cautious views.

Monashee Investment Management LLC acquired a new stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 100,000 shares of the company's stock, valued at approximately $7,781,000. Kymera Therapeutics comprises about 4.4% of Monashee Investment Management LLC's investment portfolio, making the stock its 7th biggest holding. Monashee Investment Management LLC owned about 0.14% of Kymera Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE grew its stake in shares of Kymera Therapeutics by 9.8% in the 3rd quarter. US Bancorp DE now owns 1,865 shares of the company's stock worth $106,000 after purchasing an additional 166 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Kymera Therapeutics by 36.9% in the 4th quarter. Larson Financial Group LLC now owns 1,064 shares of the company's stock worth $83,000 after purchasing an additional 287 shares during the last quarter. Xponance LLC increased its position in shares of Kymera Therapeutics by 13.1% in the fourth quarter. Xponance LLC now owns 4,505 shares of the company's stock worth $351,000 after acquiring an additional 522 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Kymera Therapeutics by 2.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 30,573 shares of the company's stock valued at $2,379,000 after acquiring an additional 645 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Kymera Therapeutics by 26.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,496 shares of the company's stock valued at $272,000 after acquiring an additional 732 shares during the period.

Kymera Therapeutics Stock Performance

Shares of KYMR opened at $82.96 on Friday. The company's 50 day moving average price is $82.83 and its 200 day moving average price is $80.17. Kymera Therapeutics, Inc. has a 52 week low of $36.65 and a 52 week high of $103.00. The company has a market capitalization of $6.82 billion, a PE ratio of -23.24 and a beta of 2.02.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) EPS for the quarter, beating analysts' consensus estimates of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The firm had revenue of $34.37 million for the quarter, compared to the consensus estimate of $8.27 million. During the same period in the previous year, the firm posted ($0.82) earnings per share. The firm's revenue was up 55.5% on a year-over-year basis. On average, equities analysts forecast that Kymera Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KYMR shares. Canaccord Genuity Group started coverage on shares of Kymera Therapeutics in a report on Wednesday, May 6th. They set a "buy" rating and a $106.00 price target on the stock. Morgan Stanley restated an "overweight" rating and set a $119.00 price target on shares of Kymera Therapeutics in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Loop Capital set a $97.00 price target on shares of Kymera Therapeutics in a report on Monday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Kymera Therapeutics in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $117.14.

Insider Activity

In related news, COO Jeremy G. Chadwick sold 91,250 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $77.41, for a total transaction of $7,063,662.50. Following the transaction, the chief operating officer directly owned 61,202 shares of the company's stock, valued at approximately $4,737,646.82. The trade was a 59.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Noah Goodman sold 8,264 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $87.50, for a total transaction of $723,100.00. Following the transaction, the insider directly owned 53,542 shares in the company, valued at $4,684,925. The trade was a 13.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 234,357 shares of company stock valued at $19,072,496 in the last three months. 15.98% of the stock is currently owned by insiders.

Kymera Therapeutics Company 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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