Fred Alger Management LLC Makes New $859,000 Investment in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Fred Alger Management LLC purchased a new stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 18,141 shares of the company’s stock, valued at approximately $859,000.

A number of other hedge funds also recently made changes to their positions in the business. Values First Advisors Inc. acquired a new stake in Kymera Therapeutics in the 3rd quarter valued at approximately $61,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Kymera Therapeutics by 27.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock worth $114,000 after purchasing an additional 504 shares in the last quarter. Comerica Bank increased its holdings in shares of Kymera Therapeutics by 13.7% during the first quarter. Comerica Bank now owns 3,324 shares of the company’s stock valued at $134,000 after purchasing an additional 400 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in shares of Kymera Therapeutics during the second quarter valued at about $139,000. Finally, Quest Partners LLC lifted its holdings in Kymera Therapeutics by 1,402.0% in the second quarter. Quest Partners LLC now owns 5,212 shares of the company’s stock worth $156,000 after purchasing an additional 4,865 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KYMR. Leerink Partnrs upgraded shares of Kymera Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Oppenheimer boosted their target price on Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Stephens started coverage on Kymera Therapeutics in a research report on Monday, November 18th. They issued an “overweight” rating and a $65.00 target price for the company. Guggenheim lifted their price target on Kymera Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Wolfe Research raised Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Monday, August 26th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.13.

Kymera Therapeutics Trading Down 0.0 %

Shares of NASDAQ KYMR opened at $46.85 on Monday. Kymera Therapeutics, Inc. has a one year low of $19.73 and a one year high of $53.27. The business has a 50-day moving average price of $46.82 and a two-hundred day moving average price of $42.26. The firm has a market capitalization of $3.03 billion, a PE ratio of -20.02 and a beta of 2.21.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.01. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The company had revenue of $3.74 million during the quarter, compared to analyst estimates of $10.34 million. During the same quarter last year, the business posted ($0.90) EPS. The company’s revenue for the quarter was down 20.9% on a year-over-year basis. Research analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Activity at Kymera Therapeutics

In other news, Director Pamela Esposito sold 13,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total transaction of $651,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.82% of the company’s stock.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc, a biopharmaceutical company, focuses on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system. It engages in developing IRAK4 program, which is in Phase II clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors.