Redmile Group LLC Lowers Stock Holdings in Kymera Therapeutics, Inc. $KYMR

Key Points

• Redmile Group LLC reduced its holdings in Kymera Therapeutics by 10.6%, owning 983,413 shares worth approximately $26.9 million, making it the firm's 13th largest position.
• Several institutional investors have adjusted their stakes in Kymera, with Yiheng Capital Management acquiring a new position valued at $3.36 million and Siren L.L.C. increasing its holdings by 9.1%.
• Kymera Therapeutics faced challenges in its latest quarterly earnings, reporting a loss of ($0.95) per share, missing expectations, and a significant 55.1% decrease in revenue year-over-year.

Redmile Group LLC reduced its stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 983,413 shares of the company's stock after selling 117,019 shares during the period. Kymera Therapeutics accounts for 2.5% of Redmile Group LLC's portfolio, making the stock its 13th biggest holding. Redmile Group LLC owned 1.51% of Kymera Therapeutics worth $26,916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in KYMR. Tower Research Capital LLC TRC lifted its holdings in Kymera Therapeutics by 95.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,812 shares of the company's stock worth $194,000 after purchasing an additional 2,350 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Kymera Therapeutics by 33.9% during the 4th quarter. Hsbc Holdings PLC now owns 17,483 shares of the company's stock valued at $702,000 after acquiring an additional 4,425 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Kymera Therapeutics by 14.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 147,296 shares of the company's stock valued at $5,926,000 after acquiring an additional 19,029 shares during the period. Northern Trust Corp boosted its holdings in Kymera Therapeutics by 14.0% during the 4th quarter. Northern Trust Corp now owns 437,833 shares of the company's stock valued at $17,614,000 after acquiring an additional 53,658 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in Kymera Therapeutics during the 4th quarter valued at $344,000.

Insider Activity at Kymera Therapeutics

In other news, Director Bros. Advisors Lp Baker bought 655,500 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $44.00 per share, for a total transaction of $28,842,000.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bvf Partners L. P/Il purchased 317,167 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average cost of $44.00 per share, for a total transaction of $13,955,348.00. Following the completion of the acquisition, the director directly owned 2,798,795 shares of the company's stock, valued at $123,146,980. This represents a 12.78% increase in their position. The disclosure for this purchase can be found here. 16.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KYMR. Oppenheimer reiterated an "outperform" rating and issued a $53.00 target price (down from $56.00) on shares of Kymera Therapeutics in a report on Friday, June 27th. Stifel Nicolaus assumed coverage on Kymera Therapeutics in a research note on Tuesday, May 20th. They set a "buy" rating and a $55.00 price objective for the company. The Goldman Sachs Group upgraded Kymera Therapeutics to a "strong-buy" rating in a research note on Tuesday, July 15th. Bank of America raised Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 target price on the stock in a research report on Monday, June 2nd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $60.00 target price (up from $54.00) on shares of Kymera Therapeutics in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Kymera Therapeutics has a consensus rating of "Buy" and an average price target of $58.76.

Kymera Therapeutics Trading Up 3.1%

Shares of KYMR stock traded up $1.31 during mid-day trading on Friday, reaching $43.51. The stock had a trading volume of 575,311 shares, compared to its average volume of 709,469. The business's fifty day moving average is $43.38 and its 200-day moving average is $36.99. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -12.54 and a beta of 2.17. Kymera Therapeutics, Inc. has a 1-year low of $19.44 and a 1-year high of $53.27.

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

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.