Eventide Asset Management LLC Cuts Stock Holdings in Kymera Therapeutics, Inc. $KYMR

Eventide Asset Management LLC lowered its stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 626,430 shares of the company’s stock after selling 18,160 shares during the period. Eventide Asset Management LLC’s holdings in Kymera Therapeutics were worth $48,743,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of KYMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Kymera Therapeutics by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,793 shares of the company’s stock worth $849,000 after purchasing an additional 1,833 shares during the period. Millennium Management LLC raised its stake in Kymera Therapeutics by 340.4% during the first quarter. Millennium Management LLC now owns 510,480 shares of the company’s stock worth $13,972,000 after purchasing an additional 394,562 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Kymera Therapeutics by 121.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company’s stock worth $24,535,000 after purchasing an additional 491,737 shares during the period. Invesco Ltd. raised its stake in Kymera Therapeutics by 13.8% during the second quarter. Invesco Ltd. now owns 47,884 shares of the company’s stock worth $2,090,000 after purchasing an additional 5,809 shares during the period. Finally, Sei Investments Co. purchased a new position in Kymera Therapeutics during the second quarter worth approximately $265,000.

Insider Activity

In related news, Director Elena Ridloff sold 3,000 shares of Kymera Therapeutics stock in a transaction on Monday, May 11th. The shares were sold at an average price of $87.00, for a total transaction of $261,000.00. Following the sale, the director owned 3,000 shares of the company’s stock, valued at $261,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeremy G. Chadwick sold 4,279 shares of Kymera Therapeutics stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $81.58, for a total transaction of $349,080.82. Following the sale, the chief operating officer directly owned 44,018 shares in the company, valued at $3,590,988.44. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 234,357 shares of company stock worth $19,072,496. Corporate insiders own 15.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BTIG Research cut their target price on shares of Kymera Therapeutics from $138.00 to $134.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Jefferies Financial Group assumed coverage on shares of Kymera Therapeutics in a research note on Monday, March 16th. They issued a “buy” rating and a $110.00 target price on the stock. Brookline Capital Markets reissued a “buy” rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Canaccord Genuity Group assumed coverage on shares of Kymera Therapeutics in a research note on Wednesday, May 6th. They issued a “buy” rating and a $106.00 target price on the stock. Finally, Wall Street Zen raised shares of Kymera Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.14.

Kymera Therapeutics Trading Up 3.9%

Shares of KYMR stock opened at $86.21 on Friday. The company’s fifty day simple moving average is $82.85 and its 200-day simple moving average is $80.22. Kymera Therapeutics, Inc. has a 52 week low of $36.65 and a 52 week high of $103.00. The company has a market cap of $7.09 billion, a PE ratio of -24.15 and a beta of 2.02.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, April 30th. The company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The business had revenue of $34.37 million for the quarter, compared to the consensus estimate of $8.27 million. During the same quarter last year, the firm posted ($0.82) EPS. The business’s revenue for the quarter was up 55.5% compared to the same quarter last year. Equities research analysts expect that Kymera Therapeutics, Inc. will post -3.25 EPS for the current fiscal year.

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.