Price T Rowe Associates Inc. MD Lowers Stock Holdings in Kymera Therapeutics, Inc. $KYMR

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Kymera Therapeutics by 2.4%, now holding 6,702,450 shares valued at $183.45 million.
• Recent analyst ratings for Kymera Therapeutics include a "buy" from Guggenheim with a price target of $60.00 and an upgrade from Goldman Sachs to a "strong-buy" rating.
• Kymera Therapeutics reported a negative earnings per share of ($0.95), missing consensus estimates, alongside a significant year-over-year revenue decline of 55.1%.

Price T Rowe Associates Inc. MD cut its stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,702,450 shares of the company's stock after selling 167,883 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 10.29% of Kymera Therapeutics worth $183,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KYMR. Wellington Management Group LLP lifted its stake in shares of Kymera Therapeutics by 13.0% in the 1st quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock valued at $164,134,000 after purchasing an additional 689,547 shares during the period. Vanguard Group Inc. raised its position in shares of Kymera Therapeutics by 7.0% in the first quarter. Vanguard Group Inc. now owns 5,231,392 shares of the company's stock worth $143,183,000 after acquiring an additional 344,080 shares during the period. Driehaus Capital Management LLC grew its holdings in Kymera Therapeutics by 4.6% in the fourth quarter. Driehaus Capital Management LLC now owns 1,390,372 shares of the company's stock valued at $55,935,000 after purchasing an additional 61,669 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in Kymera Therapeutics in the 4th quarter valued at $23,856,000. Finally, Woodline Partners LP increased its stake in shares of Kymera Therapeutics by 2.3% during the fourth quarter. Woodline Partners LP now owns 537,428 shares of the company's stock worth $21,621,000 after purchasing an additional 12,334 shares in the last quarter.

Kymera Therapeutics Trading Down 1.4%

Kymera Therapeutics stock traded down $0.59 during midday trading on Friday, hitting $41.16. 290,885 shares of the stock were exchanged, compared to its average volume of 734,945. The stock's 50-day simple moving average is $43.85 and its 200 day simple moving average is $36.75. Kymera Therapeutics, Inc. has a fifty-two week low of $19.44 and a fifty-two week high of $53.27. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -11.86 and a beta of 2.18.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The firm had revenue of $11.48 million during the quarter, compared to analysts' expectations of $17.37 million. Kymera Therapeutics had a negative net margin of 616.03% and a negative return on equity of 31.60%. The business's quarterly revenue was down 55.1% on a year-over-year basis. During the same period last year, the company earned ($0.58) EPS. Equities analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Morgan Stanley initiated coverage on Kymera Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $70.00 target price on the stock. B. Riley upgraded Kymera Therapeutics to a "strong-buy" rating and set a $60.00 price objective on the stock in a report on Wednesday, July 30th. The Goldman Sachs Group raised shares of Kymera Therapeutics to a "strong-buy" rating in a report on Tuesday, July 15th. UBS Group decreased their price target on shares of Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, HC Wainwright restated a "buy" rating and set a $60.00 price target (up from $54.00) on shares of Kymera Therapeutics in a research report on Thursday, June 26th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $58.76.

Insider Buying and Selling

In related news, Director Bvf Partners L. P/Il bought 317,167 shares of the stock in a transaction on Monday, June 30th. The stock was bought at an average price of $44.00 per share, with a total value of $13,955,348.00. Following the completion of the purchase, the director directly owned 2,798,795 shares in the company, valued at $123,146,980. This represents a 12.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bros. Advisors Lp Baker purchased 655,500 shares of Kymera Therapeutics stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $44.00 per share, for a total transaction of $28,842,000.00. Following the completion of the purchase, the director directly owned 6,117,295 shares in the company, valued at approximately $269,160,980. This trade represents a 12.00% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 48,349 shares of company stock valued at $2,334,301 in the last ninety days. Company insiders own 16.01% of the company's stock.

Kymera Therapeutics Company Profile

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.