Proficio Capital Partners LLC Invests $1.27 Million in Kymera Therapeutics, Inc. $KYMR

Key Points

• Proficio Capital Partners initiated a Kymera Therapeutics position worth approximately $1.27 million by purchasing 11,045 shares during the second quarter. Several major institutions also increased their holdings, including Baker Bros. Advisors, Avoro Capital, Vanguard and T. Rowe Price.
• Kymera reported stronger-than-expected quarterly results, with a loss of $0.62 per share versus the $0.71 consensus estimate and revenue of $65 million, up 465.2% year over year. Despite a negative net margin, analysts expect a full-year loss of $3.75 per share.
• The stock opened at $125.55, near its 12-month high of $130.05, while insiders sold roughly $386.2 million of shares over the past three months. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $125.65.

Proficio Capital Partners LLC bought a new position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,045 shares of the company's stock, valued at approximately $1,267,000.

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

Kymera Therapeutics Stock Down 0.9%

NASDAQ KYMR opened at $125.55 on Thursday. The firm has a market cap of $10.44 billion, a P/E ratio of -38.75 and a beta of 1.95. The company's 50 day moving average is $111.63 and its 200-day moving average is $93.15. 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 released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, beating analysts' consensus estimates of ($0.71) by $0.09. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The business had revenue of $65.00 million during the quarter, compared to analyst estimates of $32.78 million. During the same period in the previous year, the business earned ($0.95) EPS. Kymera Therapeutics's revenue was up 465.2% compared to the same quarter last year. Equities analysts expect that Kymera Therapeutics, Inc. will post -3.75 EPS for the current year.

Insider Buying and Selling

In related news, CFO Bruce N. Jacobs sold 77,109 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $114.96, for a total transaction of $8,864,450.64. Following the sale, the chief financial officer owned 244,883 shares of the company's stock, valued at approximately $28,151,749.68. This represents a 23.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $106.50, for a total value of $168,142,200.00. Following the completion of the transaction, the director owned 240,123 shares of the company's stock, valued at approximately $25,573,099.50. This represents a 86.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,587,629 shares of company stock valued at $386,183,782 over the last three months. Insiders own 15.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KYMR shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kymera Therapeutics in a research report on Friday, July 17th. Truist Financial increased their price target on Kymera Therapeutics from $116.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Brookline Capital Markets restated a "buy" rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Canaccord Genuity Group upped their target price on shares of Kymera Therapeutics from $106.00 to $129.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. Finally, Loop Capital set a $97.00 target price on shares of Kymera Therapeutics in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $125.65.

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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