JPMorgan Chase & Co. boosted its stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR – Free Report) by 212.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 140,491 shares of the company’s stock after acquiring an additional 95,547 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.22% of Kymera Therapeutics worth $6,649,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its position in shares of Kymera Therapeutics by 85.8% during the third quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock worth $37,754,000 after acquiring an additional 368,394 shares during the last quarter. Wellington Management Group LLP raised its holdings in Kymera Therapeutics by 7.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company’s stock worth $218,587,000 after purchasing an additional 308,954 shares during the last quarter. FMR LLC raised its holdings in Kymera Therapeutics by 5.8% during the 3rd quarter. FMR LLC now owns 5,109,141 shares of the company’s stock worth $241,816,000 after purchasing an additional 282,301 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in Kymera Therapeutics during the 2nd quarter valued at about $6,669,000. Finally, Renaissance Technologies LLC bought a new position in shares of Kymera Therapeutics in the 2nd quarter valued at about $4,271,000.
Analyst Ratings Changes
A number of research firms recently weighed in on KYMR. BMO Capital Markets assumed coverage on shares of Kymera Therapeutics in a research note on Friday, December 6th. They set a “market perform” rating and a $55.00 price target for the company. Morgan Stanley upped their target price on shares of Kymera Therapeutics from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Wells Fargo & Company upgraded Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $38.00 to $57.00 in a research report on Monday, December 2nd. Guggenheim upped their price objective on Kymera Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Stephens assumed coverage on Kymera Therapeutics in a report on Monday, November 18th. They set an “overweight” rating and a $65.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.38.
Kymera Therapeutics Stock Performance
Shares of KYMR stock opened at $43.56 on Thursday. Kymera Therapeutics, Inc. has a 52 week low of $26.34 and a 52 week high of $53.27. The company’s 50 day moving average price is $43.57 and its two-hundred day moving average price is $44.25. The company has a market capitalization of $2.82 billion, a P/E ratio of -18.62 and a beta of 2.19.
Kymera Therapeutics (NASDAQ:KYMR – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.01. The company had revenue of $3.74 million during the quarter, compared to the consensus estimate of $10.34 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The firm’s revenue was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.90) earnings per share. Analysts forecast that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Ellen Chiniara sold 3,129 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $41.75, for a total transaction of $130,635.75. Following the completion of the transaction, the insider now directly owns 54,826 shares of the company’s stock, valued at $2,288,985.50. This represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.82% of the company’s stock.
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.
See Also
- Five stocks we like better than Kymera Therapeutics
- What is the Euro STOXX 50 Index?
- 4 Social Media Stocks Set to Gain as TikTok Ban Looms
- Why Invest in 5G? How to Invest in 5G Stocks
- How Do Stock Buybacks Affect Shareholders?
- What is a buyback in stocks? A comprehensive guide for investors
- JPMorgan Chase & Co. Stock Can Hit $300 This Year
Receive News & Ratings for Kymera Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kymera Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.