Jennison Associates LLC Sells 531,074 Shares of Kymera Therapeutics, Inc. $KYMR

Jennison Associates LLC trimmed its position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 51.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 496,665 shares of the company’s stock after selling 531,074 shares during the period. Jennison Associates LLC’s holdings in Kymera Therapeutics were worth $38,646,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in Kymera Therapeutics by 81.5% during the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock valued at $44,000 after purchasing an additional 349 shares during the last quarter. Bessemer Group Inc. grew its holdings in Kymera Therapeutics by 652.0% during the 3rd quarter. Bessemer Group Inc. now owns 940 shares of the company’s stock valued at $53,000 after purchasing an additional 815 shares during the last quarter. Osaic Holdings Inc. grew its holdings in Kymera Therapeutics by 18,050.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock valued at $48,000 after purchasing an additional 1,083 shares during the last quarter. Raymond James Financial Inc. bought a new position in Kymera Therapeutics during the 2nd quarter valued at about $73,000. Finally, US Bancorp DE grew its holdings in Kymera Therapeutics by 9.8% during the 3rd quarter. US Bancorp DE now owns 1,865 shares of the company’s stock valued at $106,000 after purchasing an additional 166 shares during the last quarter.

Kymera Therapeutics Price Performance

Shares of KYMR stock opened at $80.71 on Friday. The company has a market capitalization of $6.59 billion, a P/E ratio of -21.93 and a beta of 2.06. The company’s 50-day simple moving average is $84.52 and its two-hundred day simple moving average is $76.23. Kymera Therapeutics, Inc. has a one year low of $28.06 and a one year high of $103.00.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, April 30th. The company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.18. The business had revenue of $34.37 million for the quarter, compared to the consensus estimate of $8.27 million. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 26.69%. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.82) EPS. On average, research analysts expect that Kymera Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Insider Activity

In other news, Director Bruce Booth sold 81,866 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $90.13, for a total transaction of $7,378,582.58. Following the transaction, the director directly owned 675,341 shares in the company, valued at approximately $60,868,484.33. This trade represents a 10.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bruce N. Jacobs sold 7,576 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $88.93, for a total transaction of $673,733.68. Following the transaction, the chief financial officer owned 237,483 shares in the company, valued at approximately $21,119,363.19. This represents a 3.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 380,734 shares of company stock valued at $32,193,902. 16.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KYMR has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kymera Therapeutics in a report on Tuesday, April 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 target price on shares of Kymera Therapeutics in a research note on Thursday, February 26th. BTIG Research dropped 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. Barclays upped their target price on shares of Kymera Therapeutics to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Finally, UBS Group upped their target price on shares of Kymera Therapeutics from $90.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kymera Therapeutics has an average rating of “Moderate Buy” and an average price target of $118.70.

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.