New York State Common Retirement Fund Raises Stock Position in Kymera Therapeutics, Inc. $KYMR

New York State Common Retirement Fund lifted its position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 67.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 24,396 shares of the company’s stock after buying an additional 9,847 shares during the period. New York State Common Retirement Fund’s holdings in Kymera Therapeutics were worth $1,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Kymera Therapeutics by 9.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,764 shares of the company’s stock valued at $156,000 after purchasing an additional 248 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Kymera Therapeutics in the third quarter valued at $31,622,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Kymera Therapeutics in the third quarter valued at $259,000. KLP Kapitalforvaltning AS raised its stake in shares of Kymera Therapeutics by 16.9% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 9,000 shares of the company’s stock worth $509,000 after buying an additional 1,300 shares during the last quarter. Finally, Altfest L J & Co. Inc. purchased a new stake in shares of Kymera Therapeutics in the 3rd quarter worth about $301,000.

Kymera Therapeutics Stock Performance

Shares of KYMR opened at $79.02 on Tuesday. Kymera Therapeutics, Inc. has a 1 year low of $19.44 and a 1 year high of $103.00. The company’s 50 day simple moving average is $76.85 and its 200 day simple moving average is $61.26. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of -22.01 and a beta of 2.21.

Insider Activity at Kymera Therapeutics

In related news, CEO Nello Mainolfi sold 100,000 shares of Kymera Therapeutics stock in a transaction on 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 transaction, the chief executive officer owned 660,482 shares in the company, valued at approximately $58,895,179.94. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bros. Advisors Lp Baker acquired 2,005,813 shares of Kymera Therapeutics stock in a transaction dated Thursday, December 11th. The stock was purchased at an average cost of $86.00 per share, for a total transaction of $172,499,918.00. Following the completion of the purchase, the director directly owned 7,955,916 shares in the company, valued at approximately $684,208,776. This represents a 33.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 420,895 shares of company stock worth $37,778,351. Company insiders own 16.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on KYMR. Mizuho raised their target price on shares of Kymera Therapeutics from $81.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. Wall Street Zen upgraded shares of Kymera Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. B. Riley Financial lifted their price objective on Kymera Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Stephens upped their target price on Kymera Therapeutics from $65.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, December 11th. Finally, Oppenheimer increased their target price on Kymera Therapeutics from $67.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $117.00.

About Kymera Therapeutics

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.