Freestone Grove Partners LP Takes Position in Kymera Therapeutics, Inc. $KYMR

Freestone Grove Partners LP acquired a new stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 21,176 shares of the company’s stock, valued at approximately $2,428,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Odyssean LLC increased its holdings in Kymera Therapeutics by 132.7% in the 2nd quarter. Odyssean LLC now owns 34,485 shares of the company’s stock worth $3,954,000 after purchasing an additional 19,664 shares in the last quarter. Man Group plc acquired a new stake in shares of Kymera Therapeutics during the second quarter valued at about $2,188,000. Jupiter Topco LLC acquired a new stake in shares of Kymera Therapeutics during the second quarter valued at about $2,415,000. Nicholas Investment Partners LP bought a new stake in shares of Kymera Therapeutics during the second quarter worth about $6,257,000. Finally, Legal & General Group Plc bought a new stake in shares of Kymera Therapeutics during the second quarter worth about $4,155,000.

Kymera Therapeutics Trading Down 1.7%

Shares of KYMR stock opened at $118.15 on Friday. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of -36.47 and a beta of 1.95. The stock has a 50-day moving average of $112.78 and a 200-day moving average of $93.61. Kymera Therapeutics, Inc. has a 1-year low of $39.84 and a 1-year high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.09. The company had revenue of $65.00 million for the quarter, compared to analyst estimates of $32.78 million. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The firm’s quarterly revenue was up 465.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.95) earnings per share. Sell-side analysts forecast that Kymera Therapeutics, Inc. will post -3.78 earnings per share for the current year.

Analyst Ratings Changes

KYMR has been the subject of several recent research reports. B. Riley Financial upped their price objective on Kymera Therapeutics from $117.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Bank of America boosted their target price on shares of Kymera Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Wall Street Zen raised shares of Kymera Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Royal Bank Of Canada cut shares of Kymera Therapeutics from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $106.00 to $115.00 in a research report on Monday, July 13th. Finally, Wells Fargo & Company raised their price target on shares of Kymera Therapeutics from $116.00 to $151.00 and gave the company an “overweight” rating in a research note on Thursday. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kymera Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $127.17.

Insider Buying and Selling at Kymera Therapeutics

In other news, CFO Bruce N. Jacobs sold 77,109 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $28,151,749.68. This represents a 23.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce Booth sold 31,283 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $109.48, for a total transaction of $3,424,862.84. Following the completion of the sale, the director directly owned 461,794 shares in the company, valued at approximately $50,557,207.12. This represents a 6.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 3,587,629 shares of company stock worth $386,183,782. Company insiders own 15.98% of the company’s stock.

About Kymera Therapeutics

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.