State of Wyoming Purchases New Position in Kymera Therapeutics, Inc. $KYMR

Key Points

• State of Wyoming acquired 11,780 shares of Kymera Therapeutics in the second quarter, valued at approximately $1.35 million, while several other institutional investors also initiated or increased positions.
• Kymera reported stronger-than-expected quarterly results, with an adjusted loss of $0.62 per share versus the $0.71 consensus estimate and revenue of $65 million, up 465.2% year over year.
• Despite institutional buying, insiders sold roughly 3.6 million shares worth $387.6 million over the past 90 days. Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $125.65.

State of Wyoming acquired a new position in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,780 shares of the company's stock, valued at approximately $1,351,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Kymera Therapeutics during the 2nd quarter worth approximately $842,000. Handelsbanken Fonder AB lifted its stake in shares of Kymera Therapeutics by 15.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 20,700 shares of the company's stock valued at $2,374,000 after purchasing an additional 2,700 shares during the period. GAMMA Investing LLC lifted its stake in shares of Kymera Therapeutics by 27.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $52,000 after purchasing an additional 98 shares during the period. Empowered Funds LLC bought a new stake in shares of Kymera Therapeutics during the first quarter valued at approximately $203,000. Finally, Glenmede Trust Co. NA boosted its position in shares of Kymera Therapeutics by 3.6% during the first quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company's stock valued at $565,000 after purchasing an additional 235 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Bruce N. Jacobs sold 77,109 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $114.96, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $106.50, for a total transaction of $168,142,200.00. Following the sale, the director directly owned 240,123 shares in the company, valued at $25,573,099.50. This trade represents a 86.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,604,813 shares of company stock valued at $387,557,004 over the last ninety days. Insiders own 15.98% of the company's stock.

Kymera Therapeutics Stock Up 2.6%

KYMR stock opened at $117.39 on Friday. Kymera Therapeutics, Inc. has a twelve month low of $39.84 and a twelve month high of $130.05. The firm has a market cap of $9.76 billion, a PE ratio of -36.23 and a beta of 1.95. The business has a 50 day moving average of $105.16 and a 200 day moving average of $90.28.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $65.00 million during the quarter, compared to analysts' expectations of $32.78 million. During the same quarter in the previous year, the business earned ($0.95) earnings per share. The firm's quarterly revenue was up 465.2% compared to the same quarter last year. On average, research analysts expect that Kymera Therapeutics, Inc. will post -3.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Oppenheimer restated an "outperform" rating and set a $125.00 target price on shares of Kymera Therapeutics in a report on Wednesday, August 5th. Morgan Stanley reaffirmed an "overweight" rating and issued a $135.00 target price on shares of Kymera Therapeutics in a research report on Thursday, August 6th. Brookline Capital Markets reiterated a "buy" rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Finally, Bank of America lifted their price target on shares of Kymera Therapeutics from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Kymera Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $125.65.

Kymera Therapeutics 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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