Jennison Associates LLC lifted its position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR – Free Report) by 2.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 508,999 shares of the company’s stock after buying an additional 12,334 shares during the quarter. Jennison Associates LLC’s holdings in Kymera Therapeutics were worth $42,395,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in KYMR. Marks Group Wealth Management Inc purchased a new position in Kymera Therapeutics during the 1st quarter valued at about $333,000. Principal Financial Group Inc. raised its position in Kymera Therapeutics by 24.4% during the first quarter. Principal Financial Group Inc. now owns 4,147 shares of the company’s stock worth $345,000 after acquiring an additional 814 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Kymera Therapeutics in the first quarter valued at about $4,268,000. Keudell Morrison Wealth Management lifted its holdings in shares of Kymera Therapeutics by 5.9% in the first quarter. Keudell Morrison Wealth Management now owns 6,990 shares of the company’s stock valued at $582,000 after purchasing an additional 390 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of Kymera Therapeutics by 21,538.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 25,533 shares of the company’s stock valued at $1,987,000 after purchasing an additional 25,415 shares during the last quarter.
Kymera Therapeutics Stock Performance
Shares of KYMR opened at $111.06 on Tuesday. The stock has a fifty day moving average of $94.06 and a two-hundred day moving average of $85.64. The company has a market capitalization of $9.14 billion, a PE ratio of -31.11 and a beta of 1.95. Kymera Therapeutics, Inc. has a fifty-two week low of $36.65 and a fifty-two week high of $130.05.
Insider Activity
In other news, Director Bruce Booth sold 31,283 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $109.48, for a total value of $3,424,862.84. Following the transaction, the director owned 461,794 shares of the company’s stock, valued at approximately $50,557,207.12. This trade represents a 6.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Bruce N. Jacobs sold 77,109 shares of Kymera Therapeutics stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $114.96, for a total transaction of $8,864,450.64. Following the transaction, the chief financial officer owned 244,883 shares in the company, valued at $28,151,749.68. The trade was a 23.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 3,644,113 shares of company stock worth $390,820,176. Insiders own 15.98% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on KYMR. Morgan Stanley reissued an “overweight” rating and set a $119.00 price objective on shares of Kymera Therapeutics in a research note on Thursday, April 30th. BTIG Research reaffirmed a “buy” rating and issued a $134.00 target price on shares of Kymera Therapeutics in a research note on Thursday, June 25th. Truist Financial increased their target price on Kymera Therapeutics from $116.00 to $136.00 and gave the company a “buy” rating in a report on Monday, June 29th. Brookline Capital Markets reissued a “buy” rating on shares of Kymera Therapeutics in a research report on Monday, June 8th. Finally, Canaccord Genuity Group boosted their price target on Kymera Therapeutics from $106.00 to $129.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Twenty research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Kymera Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $122.64.
Get Our Latest Stock Report on Kymera Therapeutics
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.
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