Jennison Associates LLC Has $36 Million Stock Position in Kymera Therapeutics, Inc. $KYMR

Jennison Associates LLC increased its position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 49.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 825,025 shares of the company’s stock after purchasing an additional 272,739 shares during the quarter. Jennison Associates LLC’s holdings in Kymera Therapeutics were worth $36,004,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Kymera Therapeutics by 642.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock worth $27,000 after purchasing an additional 540 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Kymera Therapeutics during the 1st quarter worth about $68,000. KBC Group NV increased its position in shares of Kymera Therapeutics by 15.2% during the 1st quarter. KBC Group NV now owns 2,479 shares of the company’s stock worth $68,000 after purchasing an additional 328 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Kymera Therapeutics by 15.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,516 shares of the company’s stock worth $110,000 after purchasing an additional 343 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Kymera Therapeutics by 81.7% during the 1st quarter. Advisors Asset Management Inc. now owns 4,959 shares of the company’s stock worth $136,000 after purchasing an additional 2,230 shares in the last quarter.

Kymera Therapeutics Price Performance

Shares of NASDAQ:KYMR opened at $61.44 on Friday. Kymera Therapeutics, Inc. has a one year low of $19.44 and a one year high of $63.96. The company has a 50 day moving average of $52.07 and a 200-day moving average of $43.67. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of -17.71 and a beta of 2.26.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.12). Kymera Therapeutics had a negative return on equity of 31.60% and a negative net margin of 616.03%.The business had revenue of $11.48 million for the quarter, compared to analyst estimates of $17.37 million. During the same quarter in the prior year, the firm earned ($0.58) EPS. The firm’s quarterly revenue was down 55.1% compared to the same quarter last year. Equities research analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. BTIG Research raised their price objective on shares of Kymera Therapeutics from $59.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Citigroup increased their price target on shares of Kymera Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, October 17th. B. Riley increased their price target on shares of Kymera Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Truist Financial increased their price target on shares of Kymera Therapeutics from $53.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Finally, Wall Street Zen cut shares of Kymera Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.45.

Insider Buying and Selling at Kymera Therapeutics

In other news, Director Jeffrey W. Albers sold 5,000 shares of Kymera Therapeutics stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $59.19, for a total transaction of $295,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $60.99, for a total transaction of $1,829,700.00. Following the transaction, the chief executive officer directly owned 660,482 shares in the company, valued at $40,282,797.18. The trade was a 4.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 206,910 shares of company stock worth $11,402,648 in the last 90 days. Corporate insiders own 16.01% of the company’s stock.

About Kymera Therapeutics

Kymera Therapeutics, Inc, a biopharmaceutical company, focuses on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system. It engages in developing IRAK4 program, which is in Phase II clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors.