The Manufacturers Life Insurance Company Cuts Stake in Kymera Therapeutics, Inc. $KYMR

The Manufacturers Life Insurance Company lowered its position in Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,151 shares of the company’s stock after selling 15,743 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Kymera Therapeutics were worth $10,007,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Kymera Therapeutics by 9.8% during the third quarter. US Bancorp DE now owns 1,865 shares of the company’s stock worth $106,000 after purchasing an additional 166 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Kymera Therapeutics by 7.5% in the 1st quarter. Cetera Investment Advisers now owns 3,602 shares of the company’s stock valued at $300,000 after buying an additional 252 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Kymera Therapeutics by 36.9% in the 4th quarter. Larson Financial Group LLC now owns 1,064 shares of the company’s stock valued at $83,000 after buying an additional 287 shares during the last quarter. Swiss National Bank grew its position in shares of Kymera Therapeutics by 0.3% in the 1st quarter. Swiss National Bank now owns 94,500 shares of the company’s stock valued at $7,871,000 after buying an additional 300 shares during the last quarter. Finally, AlphaCentric Advisors LLC raised its stake in Kymera Therapeutics by 6.1% during the 1st quarter. AlphaCentric Advisors LLC now owns 5,342 shares of the company’s stock worth $445,000 after acquiring an additional 307 shares in the last quarter.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 50,000 shares of Kymera Therapeutics stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $119.00, for a total value of $5,950,000.00. Following the transaction, the chief executive officer directly owned 666,568 shares in the company, valued at approximately $79,321,592. This trade represents a 6.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bruce N. Jacobs sold 77,109 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $114.96, for a total value of $8,864,450.64. Following the sale, the chief financial officer owned 244,883 shares of the company’s stock, valued at $28,151,749.68. This trade represents a 23.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,607,813 shares of company stock worth $387,818,004 in the last ninety days. Company insiders own 15.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KYMR shares. Guggenheim boosted their price target on shares of Kymera Therapeutics from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Royal Bank Of Canada cut Kymera Therapeutics from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $106.00 to $115.00 in a research report on Monday, July 13th. Bank of America boosted their target price on Kymera Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Morgan Stanley reissued an “overweight” rating and issued a $119.00 target price on shares of Kymera Therapeutics in a research report on Thursday, April 30th. Finally, Brookline Capital Markets restated a “buy” rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.48.

Kymera Therapeutics Stock Down 3.0%

NASDAQ KYMR opened at $100.31 on Tuesday. The firm has a market cap of $8.25 billion, a P/E ratio of -28.10 and a beta of 1.95. Kymera Therapeutics, Inc. has a 52-week low of $36.65 and a 52-week high of $130.05. The business’s 50-day moving average price is $99.34 and its 200 day moving average price is $87.95.

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.