The Manufacturers Life Insurance Company Makes New Investment in Kymera Therapeutics, Inc. $KYMR

The Manufacturers Life Insurance Company bought a new position in Kymera Therapeutics, Inc. (NASDAQ:KYMR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 119,503 shares of the company’s stock, valued at approximately $13,703,000.

Other institutional investors have also modified their holdings of the company. Brandywine Managers LLC acquired a new stake in shares of Kymera Therapeutics in the 2nd quarter valued at about $868,000. Nan Fung Group Holdings Ltd acquired a new position in Kymera Therapeutics in the second quarter worth about $3,540,436. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kymera Therapeutics in the second quarter worth about $17,190,000. B. Metzler seel. Sohn & Co. AG bought a new stake in Kymera Therapeutics in the second quarter valued at about $1,386,000. Finally, E Fund Management Co. Ltd. bought a new stake in Kymera Therapeutics in the second quarter valued at about $597,000.

Insider Buying and Selling at Kymera Therapeutics

In related news, CFO Bruce N. Jacobs sold 77,109 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $114.96, for a total transaction of $8,864,450.64. Following the completion of the transaction, the chief financial officer owned 244,883 shares in the company, valued at $28,151,749.68. The trade was a 23.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Noah Goodman sold 3,389 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $114.29, for a total value of $387,328.81. Following the transaction, the insider owned 47,179 shares of the company’s stock, valued at approximately $5,392,087.91. The trade was a 6.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 3,587,629 shares of company stock worth $386,183,782. Corporate insiders own 15.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Bank of America increased their target price on Kymera Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Morgan Stanley reiterated an “overweight” rating and issued a $135.00 price target on shares of Kymera Therapeutics in a report on Thursday, August 6th. Royal Bank Of Canada lowered Kymera Therapeutics from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $106.00 to $115.00 in a research report on Monday, July 13th. BTIG Research restated a “buy” rating and set a $134.00 price objective on shares of Kymera Therapeutics in a research note on Thursday, June 25th. Finally, Guggenheim raised their price objective on Kymera Therapeutics from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Kymera Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $127.17.

Kymera Therapeutics Stock Down 1.7%

Shares of NASDAQ:KYMR opened at $118.15 on Friday. The company has a market cap of $9.82 billion, a PE ratio of -36.47 and a beta of 1.95. Kymera Therapeutics, Inc. has a fifty-two week low of $39.84 and a fifty-two week high of $130.05. The firm has a 50-day simple moving average of $112.78 and a 200 day simple moving average of $93.61.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.09. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The firm had revenue of $65.00 million for the quarter, compared to analysts’ expectations of $32.78 million. During the same quarter last year, the company posted ($0.95) earnings per share. Kymera Therapeutics’s revenue was up 465.2% on a year-over-year basis. As a group, research analysts forecast that Kymera Therapeutics, Inc. will post -3.78 EPS for the current fiscal year.

Kymera Therapeutics 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.