Victory Capital Management Inc. Cuts Stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Key Points

• Victory Capital Management Inc. has reduced its stake in Kymera Therapeutics by 34.5%, now holding 13,040 shares valued at approximately $357,000.
• Various institutional investors, including Northern Trust Corp and GAMMA Investing LLC, have adjusted their positions in Kymera Therapeutics, with some significantly increasing their investments.
• Kymera Therapeutics recently reported a quarterly revenue of $22.10 million, surpassing analyst estimates and reflecting a 114.6% year-over-year growth.

Victory Capital Management Inc. decreased its holdings in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 34.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,040 shares of the company's stock after selling 6,859 shares during the period. Victory Capital Management Inc.'s holdings in Kymera Therapeutics were worth $357,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Northern Trust Corp boosted its position 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 buying an additional 53,658 shares during the period. Ameriprise Financial Inc. purchased a new stake in Kymera Therapeutics during the 4th quarter valued at $344,000. GAMMA Investing LLC boosted its position in Kymera Therapeutics by 3,851.5% during the 1st quarter. GAMMA Investing LLC now owns 6,678 shares of the company's stock valued at $183,000 after buying an additional 6,509 shares during the period. Millennium Management LLC boosted its position in Kymera Therapeutics by 205.0% during the 4th quarter. Millennium Management LLC now owns 115,918 shares of the company's stock valued at $4,663,000 after buying an additional 77,912 shares during the period. Finally, Rhumbline Advisers boosted its position in Kymera Therapeutics by 9.0% during the 1st quarter. Rhumbline Advisers now owns 69,928 shares of the company's stock valued at $1,914,000 after buying an additional 5,771 shares during the period.

Analysts Set New Price Targets

KYMR has been the subject of several analyst reports. Wells Fargo & Company dropped their price target on shares of Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Jefferies Financial Group set a $64.00 target price on shares of Kymera Therapeutics and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Oppenheimer reaffirmed an "outperform" rating and issued a $53.00 target price (down from $56.00) on shares of Kymera Therapeutics in a research report on Friday, June 27th. B. Riley raised shares of Kymera Therapeutics to a "strong-buy" rating and set a $60.00 target price for the company in a research report on Wednesday. Finally, Guggenheim reaffirmed a "buy" rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Kymera Therapeutics has a consensus rating of "Buy" and a consensus target price of $59.11.

Kymera Therapeutics Price Performance

Shares of Kymera Therapeutics stock opened at $42.96 on Friday. The company has a 50-day moving average of $43.85 and a 200 day moving average of $36.52. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -13.86 and a beta of 2.18. 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 issued its quarterly earnings results on Friday, May 9th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.10. The company had revenue of $22.10 million during the quarter, compared to analyst estimates of $11.38 million. Kymera Therapeutics had a negative net margin of 409.07% and a negative return on equity of 30.11%. Kymera Therapeutics's quarterly revenue was up 114.6% compared to the same quarter last year. During the same period last year, the business earned ($0.69) EPS. On average, equities analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Buying and Selling at Kymera Therapeutics

In other news, Director Bros. Advisors Lp Baker acquired 655,500 shares of Kymera Therapeutics stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $44.00 per share, for a total transaction of $28,842,000.00. Following the purchase, the director owned 6,117,295 shares in the company, valued at $269,160,980. This trade represents a 12.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nello Mainolfi sold 30,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the sale, the chief executive officer owned 660,482 shares of the company's stock, valued at approximately $32,363,618. This represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,349 shares of company stock worth $2,334,301 in the last 90 days. 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.

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