Wellington Management Group LLP Trims Holdings in Kymera Therapeutics, Inc. $KYMR

Key Points

• Wellington Management reduced its Kymera Therapeutics stake by 5.5% in the second quarter, selling 214,659 shares. It still held 3.68 million shares, representing a 4.42% ownership stake valued at about $421.4 million.
• 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.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $127.17. However, company insiders sold 3.59 million shares worth approximately $386.2 million over the past 90 days.

Wellington Management Group LLP lowered its holdings in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,675,028 shares of the company's stock after selling 214,659 shares during the period. Wellington Management Group LLP owned 4.42% of Kymera Therapeutics worth $421,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in shares of Kymera Therapeutics by 382.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the company's stock worth $42,000 after buying an additional 424 shares during the period. Larson Financial Group LLC increased its position in Kymera Therapeutics by 81.5% in the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company's stock valued at $44,000 after acquiring an additional 349 shares during the period. Osaic Holdings Inc. increased its position in Kymera Therapeutics by 18,050.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock valued at $48,000 after acquiring an additional 1,083 shares during the period. GAMMA Investing LLC raised its stake in Kymera Therapeutics by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $52,000 after acquiring an additional 98 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Kymera Therapeutics during the 4th quarter valued at approximately $63,000.

Kymera Therapeutics Price Performance

Shares of NASDAQ:KYMR opened at $118.15 on Friday. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of -36.47 and a beta of 1.95. The business's 50 day simple moving average is $112.78 and its 200-day simple moving average is $93.61. 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 the consensus estimate of ($0.71) by $0.09. The firm had revenue of $65.00 million during the quarter, compared to the consensus estimate of $32.78 million. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.Kymera Therapeutics's quarterly revenue was up 465.2% on a year-over-year basis. During the same period last year, the business posted ($0.95) EPS. On average, equities analysts anticipate that Kymera Therapeutics, Inc. will post -3.78 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on KYMR shares. Canaccord Genuity Group lifted their target price on Kymera Therapeutics from $106.00 to $129.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Loop Capital set a $97.00 price target on Kymera Therapeutics in a research note on Monday, June 8th. Barclays upped their price target on Kymera Therapeutics from $133.00 to $139.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Morgan Stanley reaffirmed an "overweight" rating and set a $135.00 price target on shares of Kymera Therapeutics in a report on Thursday, August 6th. Finally, Brookline Capital Markets reiterated a "buy" rating on shares of Kymera Therapeutics in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $127.17.

Insider Transactions at Kymera Therapeutics

In other news, CFO Bruce N. Jacobs sold 77,109 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 244,883 shares in the company, valued at $28,151,749.68. This represents a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nello Mainolfi sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $119.00, for a total transaction of $5,950,000.00. Following the transaction, the chief executive officer directly owned 666,568 shares of the company's stock, valued at approximately $79,321,592. This trade represents a 6.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,587,629 shares of company stock worth $386,183,782 in the last 90 days. Insiders own 15.98% of the company's stock.

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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