Neo Ivy Capital Management Invests $395,000 in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Key Points

• Neo Ivy Capital Management has invested $395,000 in Kymera Therapeutics by acquiring 14,420 shares in the 1st quarter of the year.
• Kymera's stock has shown significant price potential, opening at $45.79, with a market cap of $2.98 billion and a 1-year high of $53.27.
• Analysts have a consensus rating of "Buy" for Kymera's stock, with price targets ranging from $53.00 to $70.00, indicating strong market interest.

Neo Ivy Capital Management purchased a new stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,420 shares of the company's stock, valued at approximately $395,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming bought a new position in shares of Kymera Therapeutics in the 4th quarter worth approximately $45,000. GF Fund Management CO. LTD. purchased a new stake in Kymera Therapeutics during the fourth quarter valued at approximately $55,000. KBC Group NV boosted its stake in shares of Kymera Therapeutics by 15.2% during the 1st quarter. KBC Group NV now owns 2,479 shares of the company's stock worth $68,000 after acquiring an additional 328 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Kymera Therapeutics by 95.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,812 shares of the company's stock valued at $194,000 after acquiring an additional 2,350 shares during the period. Finally, Summit Investment Advisors Inc. raised its holdings in Kymera Therapeutics by 9.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,912 shares of the company's stock worth $198,000 after purchasing an additional 406 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KYMR. Wall Street Zen raised Kymera Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Wells Fargo & Company lowered their price target on shares of Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Morgan Stanley initiated coverage on shares of Kymera Therapeutics in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $70.00 price objective for the company. The Goldman Sachs Group upgraded shares of Kymera Therapeutics to a "strong-buy" rating in a research note on Tuesday, July 15th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $53.00 target price (down previously from $56.00) on shares of Kymera Therapeutics in a report on Friday, June 27th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $59.11.

Kymera Therapeutics Trading Up 1.1%

Shares of NASDAQ:KYMR traded up $0.50 on Wednesday, hitting $44.20. 136,786 shares of the company were exchanged, compared to its average volume of 749,583. The stock's 50 day moving average price is $43.03 and its 200 day moving average price is $36.46. Kymera Therapeutics, Inc. has a 1-year low of $19.44 and a 1-year high of $53.27. The firm has a market capitalization of $2.88 billion, a P/E ratio of -14.30 and a beta of 2.18.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its earnings results on Friday, May 9th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.10. The business had revenue of $22.10 million for the quarter, compared to analyst estimates of $11.38 million. Kymera Therapeutics had a negative net margin of 409.07% and a negative return on equity of 30.11%. The company's revenue for the quarter was up 114.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.69) EPS. On average, equities analysts predict that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bros. Advisors Lp Baker purchased 655,500 shares of the company's stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $44.00 per share, for a total transaction of $28,842,000.00. Following the completion of the transaction, the director directly owned 6,117,295 shares in the company, valued at approximately $269,160,980. The trade was a 12.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey W. Albers sold 6,349 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total transaction of $311,101.00. The disclosure for this sale can be found here. Insiders have sold 48,349 shares of company stock worth $2,334,301 in the last 90 days. 16.01% of the stock is owned by insiders.

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.