Wellington Management Group LLP Trims Holdings in Kymera Therapeutics, Inc. $KYMR

Wellington Management Group LLP reduced its position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,675,028 shares of the company’s stock after selling 214,659 shares during the period. Wellington Management Group LLP’s holdings in Kymera Therapeutics were worth $421,415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Beacon Pointe Advisors LLC purchased a new position in shares of Kymera Therapeutics during the second quarter valued at approximately $264,000. Empowered Funds LLC purchased a new position in shares of Kymera Therapeutics during the 2nd quarter worth $268,000. Proficio Capital Partners LLC purchased a new position in shares of Kymera Therapeutics during the 2nd quarter worth $1,267,000. Bamco Inc. NY acquired a new stake in shares of Kymera Therapeutics during the second quarter worth $2,293,000. Finally, Bank of America Corp DE purchased a new stake in shares of Kymera Therapeutics in the second quarter valued at $43,378,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. TD Cowen upgraded Kymera Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Barclays upped their price objective on shares of Kymera Therapeutics from $133.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. B. Riley Financial raised their target price on shares of Kymera Therapeutics from $117.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Guggenheim upped their price target on shares of Kymera Therapeutics from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kymera Therapeutics in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.17.

Kymera Therapeutics Trading Down 1.7%

Shares of Kymera Therapeutics stock opened at $118.15 on Friday. Kymera Therapeutics, Inc. has a twelve month low of $39.84 and a twelve month high of $130.05. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of -36.47 and a beta of 1.95. The company has a fifty day moving average price of $112.78 and a 200 day moving average price of $93.61.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.09. The company had revenue of $65.00 million for the quarter, compared to analyst estimates of $32.78 million. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The firm’s revenue was up 465.2% compared to the same quarter last year. During the same period last year, the company posted ($0.95) earnings per share. Analysts forecast that Kymera Therapeutics, Inc. will post -3.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Noah Goodman sold 3,389 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $114.29, for a total transaction of $387,328.81. Following the sale, the insider directly owned 47,179 shares in the company, valued at approximately $5,392,087.91. This trade represents a 6.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nello Mainolfi sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $119.00, for a total value of $5,950,000.00. Following the transaction, the chief executive officer directly owned 666,568 shares in the company, valued at $79,321,592. This trade represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,587,629 shares of company stock valued at $386,183,782. Company 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.