Woodline Partners LP Lowers Holdings in Kymera Therapeutics, Inc. $KYMR

Key Points

• Woodline Partners LP has reduced its stake in Kymera Therapeutics, Inc. by 2.3%, holding 525,245 shares worth approximately $14.38 million as of their latest SEC filing.
• Kymera Therapeutics reported a significant earnings miss for the last quarter, with a loss of ($0.95) per share, underperforming against the consensus estimate of ($0.83).
• Analysts hold a generally positive outlook on Kymera, with a majority rating it as "Buy" and setting an average price target of $58.76, indicating potential upward movement in the stock price.

Woodline Partners LP lowered its stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 525,245 shares of the company's stock after selling 12,183 shares during the period. Woodline Partners LP owned approximately 0.81% of Kymera Therapeutics worth $14,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp grew 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 worth $17,614,000 after acquiring an additional 53,658 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Kymera Therapeutics during the fourth quarter valued at approximately $344,000. GAMMA Investing LLC grew its holdings in shares of Kymera Therapeutics by 3,851.5% in the first quarter. GAMMA Investing LLC now owns 6,678 shares of the company's stock worth $183,000 after purchasing an additional 6,509 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Kymera Therapeutics by 205.0% in the fourth quarter. Millennium Management LLC now owns 115,918 shares of the company's stock worth $4,663,000 after purchasing an additional 77,912 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Kymera Therapeutics by 9.0% in the first quarter. Rhumbline Advisers now owns 69,928 shares of the company's stock worth $1,914,000 after buying an additional 5,771 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KYMR. The Goldman Sachs Group raised shares of Kymera Therapeutics to a "strong-buy" rating in a research report on Tuesday, July 15th. Morgan Stanley assumed coverage on shares of Kymera Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $70.00 target price for the company. Jefferies Financial Group set a $64.00 price target on Kymera Therapeutics and gave the company a "buy" rating in a report on Wednesday, June 25th. BTIG Research reiterated a "buy" rating and issued a $59.00 price objective on shares of Kymera Therapeutics in a report on Thursday, June 26th. Finally, Stifel Nicolaus initiated coverage on Kymera Therapeutics in a research report on Tuesday, May 20th. They issued a "buy" rating and a $55.00 price objective on the stock. Two 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $58.76.

Kymera Therapeutics Price Performance

KYMR traded up $0.79 on Friday, hitting $46.99. The company had a trading volume of 579,312 shares, compared to its average volume of 598,355. The stock has a fifty day simple moving average of $43.40 and a 200-day simple moving average of $37.28. The firm has a market capitalization of $3.36 billion, a P/E ratio of -13.54 and a beta of 2.17. Kymera Therapeutics, Inc. has a 52-week low of $19.44 and a 52-week high of $53.27.

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

Insiders Place Their Bets

In other Kymera Therapeutics news, Director Bros. Advisors Lp Baker bought 655,500 shares of Kymera Therapeutics stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $44.00 per share, with a total value of $28,842,000.00. Following the transaction, the director directly owned 6,117,295 shares of the company's stock, valued at $269,160,980. This 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 this link. 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 acquired at an average cost of $44.00 per share, with a total value of $13,955,348.00. Following the completion of the transaction, the director owned 2,798,795 shares in the company, valued at $123,146,980. This trade represents a 12.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.01% of the stock is currently owned by corporate insiders.

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.