Kymera Therapeutics, Inc. $KYMR Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,699 shares of the company’s stock after selling 15,023 shares during the quarter. JPMorgan Chase & Co.’s holdings in Kymera Therapeutics were worth $10,907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KYMR. PNC Financial Services Group Inc. boosted its position in shares of Kymera Therapeutics by 506.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock valued at $40,000 after acquiring an additional 770 shares during the last quarter. Larson Financial Group LLC increased its position in Kymera Therapeutics by 81.5% during the third quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock worth $44,000 after purchasing an additional 349 shares during the last quarter. Osaic Holdings Inc. raised its stake in Kymera Therapeutics by 18,050.0% during the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock worth $48,000 after purchasing an additional 1,083 shares during the period. Bessemer Group Inc. raised its stake in Kymera Therapeutics by 652.0% during the third quarter. Bessemer Group Inc. now owns 940 shares of the company’s stock worth $53,000 after purchasing an additional 815 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Kymera Therapeutics in the 2nd quarter valued at about $73,000.

Insider Activity at Kymera Therapeutics

In related news, insider Jared Gollob sold 5,613 shares of Kymera Therapeutics stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $88.93, for a total value of $499,164.09. Following the completion of the transaction, the insider owned 122,029 shares in the company, valued at approximately $10,852,038.97. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nello Mainolfi sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $90.26, for a total transaction of $2,707,800.00. Following the sale, the chief executive officer directly owned 666,195 shares in the company, valued at approximately $60,130,760.70. The trade was a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 312,538 shares of company stock worth $26,145,679 over the last ninety days. Company insiders own 16.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on KYMR shares. JPMorgan Chase & Co. increased their price target on shares of Kymera Therapeutics from $70.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Wells Fargo & Company upped their price objective on Kymera Therapeutics from $69.00 to $116.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Bank of America increased their price objective on Kymera Therapeutics from $71.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Piper Sandler raised their target price on Kymera Therapeutics from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Finally, Jefferies Financial Group initiated coverage on Kymera Therapeutics in a research report on Monday, March 16th. They issued a “buy” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.90.

Kymera Therapeutics Price Performance

Shares of KYMR opened at $78.16 on Friday. The firm has a 50-day simple moving average of $80.23 and a two-hundred day simple moving average of $70.86. The stock has a market cap of $6.38 billion, a PE ratio of -21.24 and a beta of 2.20. Kymera Therapeutics, Inc. has a 1-year low of $19.44 and a 1-year high of $103.00.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Thursday, February 26th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.20). Kymera Therapeutics had a negative net margin of 794.04% and a negative return on equity of 28.71%. The company had revenue of $2.87 million during the quarter, compared to analyst estimates of $14.80 million. During the same quarter last year, the business posted ($0.88) EPS. The firm’s revenue for the quarter was down 60.8% on a year-over-year basis. As a group, sell-side analysts expect that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Kymera Therapeutics 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.