KLP Kapitalforvaltning AS Makes New Investment in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

KLP Kapitalforvaltning AS purchased a new stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,700 shares of the company’s stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Kymera Therapeutics by 74.8% during the fourth quarter. Blue Trust Inc. now owns 631 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares during the last quarter. KBC Group NV grew its holdings in shares of Kymera Therapeutics by 53.8% in the 4th quarter. KBC Group NV now owns 2,151 shares of the company’s stock worth $87,000 after acquiring an additional 752 shares during the last quarter. Quarry LP acquired a new position in shares of Kymera Therapeutics in the 3rd quarter valued at $95,000. Arizona State Retirement System increased its stake in Kymera Therapeutics by 15.5% in the 4th quarter. Arizona State Retirement System now owns 11,221 shares of the company’s stock worth $451,000 after purchasing an additional 1,503 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Kymera Therapeutics by 35.8% during the 4th quarter. Teacher Retirement System of Texas now owns 11,490 shares of the company’s stock worth $462,000 after buying an additional 3,026 shares during the period.

Kymera Therapeutics Trading Down 6.8 %

KYMR stock opened at $22.07 on Friday. The firm has a market cap of $1.43 billion, a PE ratio of -9.43 and a beta of 2.22. Kymera Therapeutics, Inc. has a 1 year low of $21.40 and a 1 year high of $53.27. The company has a fifty day simple moving average of $34.02 and a 200 day simple moving average of $41.02.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.12). Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company had revenue of $7.39 million for the quarter, compared to the consensus estimate of $14.81 million. As a group, analysts forecast that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KYMR. Citigroup started coverage on shares of Kymera Therapeutics in a research report on Thursday, March 13th. They issued a “buy” rating and a $52.00 price target for the company. HC Wainwright increased their target price on Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $60.00 price target on shares of Kymera Therapeutics in a report on Tuesday, January 21st. BTIG Research began coverage on Kymera Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Leerink Partners restated an “outperform” rating and set a $60.00 price objective on shares of Kymera Therapeutics in a research report on Friday, December 27th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.36.

Insider Activity

In other news, insider Ellen Chiniara sold 2,241 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $68,238.45. Following the sale, the insider now owns 80,085 shares in the company, valued at approximately $2,438,588.25. This trade represents a 2.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bruce N. Jacobs sold 7,035 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total transaction of $214,215.75. Following the transaction, the chief financial officer now owns 201,886 shares of the company’s stock, valued at approximately $6,147,428.70. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,788 shares of company stock valued at $455,202 over the last 90 days. 15.82% of the stock is currently owned by company insiders.

Kymera Therapeutics 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.