Kymera Therapeutics, Inc. $KYMR Position Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 24.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 298,928 shares of the company’s stock after selling 96,612 shares during the period. Pictet Asset Management Holding SA’s holdings in Kymera Therapeutics were worth $33,363,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Kymera Therapeutics during the second quarter worth about $635,067,000. Merck & Co. Inc. acquired a new position in shares of Kymera Therapeutics in the 2nd quarter valued at about $88,544,161. Jennison Associates LLC lifted its stake in shares of Kymera Therapeutics by 2.5% in the 1st quarter. Jennison Associates LLC now owns 508,999 shares of the company’s stock valued at $42,395,000 after purchasing an additional 12,334 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Kymera Therapeutics in the 2nd quarter valued at about $43,378,000. Finally, Braidwell LP grew its holdings in shares of Kymera Therapeutics by 12.0% during the 2nd quarter. Braidwell LP now owns 378,163 shares of the company’s stock worth $43,364,000 after purchasing an additional 40,604 shares during the period.

Insider Activity

In related news, insider Brian Adams sold 6,371 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $116.83, for a total transaction of $744,323.93. Following the sale, the insider directly owned 50,254 shares in the company, valued at approximately $5,871,174.82. This trade represents a 11.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $113.80, for a total value of $3,414,000.00. Following the transaction, the chief executive officer directly owned 666,568 shares in the company, valued at $75,855,438.40. This trade represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 15.98% of the company’s stock.

Kymera Therapeutics Price Performance

NASDAQ:KYMR opened at $136.64 on Wednesday. The business’s 50-day moving average is $116.45 and its two-hundred day moving average is $98.47. Kymera Therapeutics, Inc. has a 12 month low of $60.25 and a 12 month high of $142.92. The firm has a market capitalization of $11.66 billion, a PE ratio of -37.75 and a beta of 2.04.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, October 29th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.06). Kymera Therapeutics had a negative return on equity of 22.39% and a negative net margin of 285.33%. The company had revenue of $1.35 million during the quarter, compared to analysts’ expectations of $3.28 million. During the same period in the previous year, the company earned ($0.94) EPS. Kymera Therapeutics’s quarterly revenue was up .0% on a year-over-year basis. Equities analysts anticipate that Kymera Therapeutics, Inc. will post -3.88 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KYMR shares. Citigroup increased their target price on shares of Kymera Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Wells Fargo & Company raised their price target on shares of Kymera Therapeutics from $116.00 to $151.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price target on shares of Kymera Therapeutics in a research report on Wednesday, September 23rd. Truist Financial reiterated a “buy” rating and set a $150.00 price objective (up from $136.00) on shares of Kymera Therapeutics in a research note on Friday, October 30th. Finally, Guggenheim boosted their price objective on shares of Kymera Therapeutics from $135.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.16.

Kymera Therapeutics Profile

Kymera Therapeutics, Inc. is a clinical-stage biotechnology company developing medicines that selectively remove disease-causing proteins from cells. Its approach, known as targeted protein degradation, uses the body’s natural protein-disposal system and is designed to address targets that may be difficult to reach with conventional drugs. The company’s research and development programs include small-molecule protein degraders for conditions involving immune and inflammatory pathways, as well as cancer.