Federated Hermes Inc. Makes New Investment in Kymera Therapeutics, Inc. $KYMR

Federated Hermes Inc. bought a new position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 558,700 shares of the company’s stock, valued at approximately $31,622,000. Federated Hermes Inc. owned approximately 0.78% of Kymera Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KYMR. Farther Finance Advisors LLC raised its position in Kymera Therapeutics by 642.9% in 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 during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Kymera Therapeutics by 506.6% during the second quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock worth $40,000 after acquiring an additional 770 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Kymera Therapeutics by 18,050.0% during the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock worth $48,000 after acquiring an additional 1,083 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Kymera Therapeutics during the second quarter valued at $73,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Kymera Therapeutics by 15.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,516 shares of the company’s stock valued at $110,000 after acquiring an additional 343 shares during the last quarter.

Kymera Therapeutics Stock Performance

Shares of NASDAQ:KYMR opened at $72.69 on Friday. Kymera Therapeutics, Inc. has a 52 week low of $19.44 and a 52 week high of $103.00. The company has a market capitalization of $5.23 billion, a PE ratio of -20.25 and a beta of 2.21. The company has a 50 day moving average price of $75.62 and a two-hundred day moving average price of $59.72.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.19). Kymera Therapeutics had a negative return on equity of 32.92% and a negative net margin of 674.81%.The firm had revenue of $2.76 million for the quarter, compared to the consensus estimate of $23.15 million. On average, sell-side analysts forecast that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 100,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $89.17, for a total value of $8,917,000.00. Following the completion of the transaction, the chief executive officer directly owned 660,482 shares of the company’s stock, valued at approximately $58,895,179.94. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jared Gollob sold 49,307 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $88.67, for a total value of $4,372,051.69. Following the sale, the insider directly owned 109,992 shares in the company, valued at approximately $9,752,990.64. This represents a 30.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 420,895 shares of company stock valued at $37,778,351. Company insiders own 16.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KYMR. Royal Bank Of Canada boosted their price objective on Kymera Therapeutics from $70.00 to $103.00 and gave the stock an “outperform” rating in a report on Tuesday, December 16th. Mizuho boosted their price target on shares of Kymera Therapeutics from $81.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Citigroup increased their price objective on shares of Kymera Therapeutics from $80.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Truist Financial lifted their target price on shares of Kymera Therapeutics from $80.00 to $116.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Finally, Leerink Partners upped their target price on shares of Kymera Therapeutics from $70.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $117.00.

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.