The Manufacturers Life Insurance Company Cuts Holdings in Kymera Therapeutics, Inc. $KYMR

The Manufacturers Life Insurance Company decreased its holdings in Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 11.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 120,151 shares of the company’s stock after selling 15,743 shares during the quarter. The Manufacturers Life Insurance Company owned 0.15% of Kymera Therapeutics worth $10,007,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Kymera Therapeutics by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,793 shares of the company’s stock valued at $849,000 after acquiring an additional 1,833 shares during the period. Millennium Management LLC raised its position in Kymera Therapeutics by 340.4% during the first quarter. Millennium Management LLC now owns 510,480 shares of the company’s stock worth $13,972,000 after acquiring an additional 394,562 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Kymera Therapeutics by 121.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company’s stock valued at $24,535,000 after purchasing an additional 491,737 shares in the last quarter. Invesco Ltd. grew its position in shares of Kymera Therapeutics by 13.8% in the second quarter. Invesco Ltd. now owns 47,884 shares of the company’s stock valued at $2,090,000 after purchasing an additional 5,809 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Kymera Therapeutics in the second quarter valued at about $265,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on KYMR shares. Wall Street Zen raised Kymera Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada downgraded Kymera Therapeutics from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $106.00 to $115.00 in a research note on Monday, July 13th. Truist Financial lifted their target price on shares of Kymera Therapeutics from $116.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. BTIG Research reaffirmed a “buy” rating and set a $134.00 target price on shares of Kymera Therapeutics in a report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Kymera Therapeutics in a report on Thursday. They set a “hold” rating and a $120.00 target price for the company. Twenty analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.48.

Kymera Therapeutics Stock Performance

NASDAQ:KYMR opened at $100.31 on Tuesday. Kymera Therapeutics, Inc. has a one year low of $36.65 and a one year high of $130.05. The stock has a market cap of $8.25 billion, a PE ratio of -28.10 and a beta of 1.95. The stock has a 50 day moving average price of $99.34 and a 200 day moving average price of $87.95.

Insider Buying and Selling

In other Kymera Therapeutics news, insider Noah Goodman sold 3,389 shares of the firm’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 completion of the sale, the insider directly owned 47,179 shares of the company’s stock, valued at $5,392,087.91. This trade represents a 6.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of Kymera Therapeutics stock in a transaction on Friday, June 26th. The stock was sold at an average price of $106.50, for a total value of $168,142,200.00. Following the transaction, the director owned 240,123 shares in the company, valued at approximately $25,573,099.50. This represents a 86.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,607,813 shares of company stock worth $387,818,004 over the last quarter. Corporate insiders own 15.98% of the company’s stock.

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.