Nicholas Investment Partners LP Invests $6.26 Million in Kymera Therapeutics, Inc. $KYMR

Key Points

• Nicholas Investment Partners acquired 54,569 Kymera Therapeutics shares worth approximately $6.26 million, representing about 0.07% of the company. Other major institutional investors, including BlackRock, Baker Bros. Advisors and Avoro Capital, also increased or initiated positions.
• Analyst sentiment is broadly positive, with 20 Buy ratings, two Holds and one Sell; the consensus rating is Moderate Buy with an average price target of $125.65.
• Kymera reported quarterly revenue of $65 million, up 465.2% year over year, and an adjusted loss of $0.62 per share that beat expectations. However, insiders sold 3.59 million shares worth approximately $386.5 million during the quarter.

Nicholas Investment Partners LP acquired a new stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 54,569 shares of the company's stock, valued at approximately $6,257,000. Nicholas Investment Partners LP owned approximately 0.07% of Kymera Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baker BROS. Advisors LP boosted its holdings in Kymera Therapeutics by 30.2% in the 4th quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company's stock valued at $673,620,000 after purchasing an additional 2,005,813 shares during the period. Avoro Capital Advisors LLC increased its holdings in shares of Kymera Therapeutics by 17.7% in the fourth quarter. Avoro Capital Advisors LLC now owns 7,474,747 shares of the company's stock worth $581,610,000 after purchasing an additional 1,124,747 shares during the period. Vanguard Group Inc. raised its position in shares of Kymera Therapeutics by 15.6% in the fourth quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company's stock worth $487,685,000 after buying an additional 845,922 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Kymera Therapeutics by 20.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,159,335 shares of the company's stock worth $479,258,000 after buying an additional 1,061,957 shares in the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Kymera Therapeutics in the second quarter worth $635,067,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KYMR shares. Weiss Ratings restated a "sell (d-)" rating on shares of Kymera Therapeutics in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on Kymera Therapeutics in a report on Thursday, July 30th. They issued a "hold" rating and a $120.00 price target on the stock. Brookline Capital Markets reiterated a "buy" rating on shares of Kymera Therapeutics in a research report on Monday, June 8th. B. Riley Financial boosted their price objective on Kymera Therapeutics from $117.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Finally, Bank of America upped their price objective on shares of Kymera Therapeutics from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $125.65.

Insider Transactions at Kymera Therapeutics

In other Kymera Therapeutics news, Director Bruce Booth sold 467,878 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $110.29, for a total value of $51,602,264.62. Following the completion of the sale, the director owned 472,267 shares of the company's stock, valued at $52,086,327.43. This represents a 49.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Bruce N. Jacobs sold 77,109 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $114.96, for a total transaction 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. The trade was a 23.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,591,908 shares of company stock valued at $386,532,863. 15.98% of the stock is currently owned by corporate insiders.

Kymera Therapeutics Stock Up 1.0%

KYMR opened at $121.05 on Tuesday. The business's fifty day simple moving average is $110.13 and its 200 day simple moving average is $92.46. Kymera Therapeutics, Inc. has a 52 week low of $39.84 and a 52 week high of $130.05. The stock has a market cap of $10.07 billion, a PE ratio of -37.36 and a beta of 1.95.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $65.00 million during the quarter, compared to analyst estimates of $32.78 million. During the same quarter in the previous year, the company posted ($0.95) earnings per share. The company's revenue was up 465.2% compared to the same quarter last year. As a group, equities analysts anticipate that Kymera Therapeutics, Inc. will post -3.75 earnings per share for the current year.

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.

Want to see what other hedge funds are holding KYMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source