Redmile Group LLC Lowers Position in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Redmile Group LLC lowered its stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,734,089 shares of the company’s stock after selling 89,867 shares during the quarter. Kymera Therapeutics makes up approximately 2.6% of Redmile Group LLC’s portfolio, making the stock its 8th largest holding. Redmile Group LLC owned about 2.83% of Kymera Therapeutics worth $69,710,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its stake in shares of Kymera Therapeutics by 7.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,070 shares of the company’s stock valued at $164,000 after buying an additional 295 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Kymera Therapeutics by 2.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,940 shares of the company’s stock valued at $584,000 after acquiring an additional 524 shares during the period. Congress Asset Management Co. MA raised its stake in Kymera Therapeutics by 1.2% in the 1st quarter. Congress Asset Management Co. MA now owns 45,836 shares of the company’s stock valued at $1,843,000 after acquiring an additional 533 shares during the period. Principal Financial Group Inc. lifted its holdings in Kymera Therapeutics by 4.7% during the first quarter. Principal Financial Group Inc. now owns 12,098 shares of the company’s stock valued at $486,000 after purchasing an additional 547 shares during the last quarter. Finally, American International Group Inc. boosted its position in Kymera Therapeutics by 6.4% during the first quarter. American International Group Inc. now owns 20,095 shares of the company’s stock worth $808,000 after purchasing an additional 1,209 shares during the period.

Insiders Place Their Bets

In other news, insider Jared Gollob sold 23,145 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $45.81, for a total transaction of $1,060,272.45. Following the sale, the insider now owns 95,470 shares in the company, valued at approximately $4,373,480.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Jared Gollob sold 23,145 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $45.81, for a total value of $1,060,272.45. Following the completion of the transaction, the insider now directly owns 95,470 shares in the company, valued at approximately $4,373,480.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce Booth sold 453,960 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $38.21, for a total value of $17,345,811.60. Following the transaction, the director now directly owns 723,246 shares in the company, valued at $27,635,229.66. The disclosure for this sale can be found here. Insiders sold a total of 502,345 shares of company stock valued at $19,279,932 in the last quarter. Corporate insiders own 15.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KYMR. Oppenheimer reissued an “outperform” rating and issued a $52.00 price target on shares of Kymera Therapeutics in a research report on Wednesday, July 10th. HC Wainwright restated a “buy” rating and set a $46.00 target price on shares of Kymera Therapeutics in a research report on Monday, June 17th. Finally, B. Riley raised their price target on Kymera Therapeutics from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Kymera Therapeutics currently has an average rating of “Hold” and a consensus price target of $42.09.

Kymera Therapeutics Stock Down 2.0 %

NASDAQ:KYMR traded down $0.90 during trading hours on Monday, hitting $43.64. 443,327 shares of the company’s stock traded hands, compared to its average volume of 680,462. Kymera Therapeutics, Inc. has a 52 week low of $9.60 and a 52 week high of $48.70. The business’s fifty day simple moving average is $35.55 and its two-hundred day simple moving average is $36.27. The firm has a market cap of $2.68 billion, a P/E ratio of -17.39 and a beta of 2.22.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. The firm had revenue of $10.30 million during the quarter, compared to the consensus estimate of $14.24 million. Kymera Therapeutics had a negative return on equity of 31.92% and a negative net margin of 194.67%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.70) EPS. On average, analysts expect that Kymera Therapeutics, Inc. will post -2.86 EPS for the current year.

Kymera Therapeutics Company Profile

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.