Comerica Bank Reduces Position in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Comerica Bank trimmed its position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 45.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,631 shares of the company’s stock after selling 17,442 shares during the period. Comerica Bank’s holdings in Kymera Therapeutics were worth $830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in Kymera Therapeutics by 35.1% in the 3rd quarter. Franklin Resources Inc. now owns 29,440 shares of the company’s stock valued at $1,356,000 after acquiring an additional 7,647 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Kymera Therapeutics by 212.6% during the third quarter. JPMorgan Chase & Co. now owns 140,491 shares of the company’s stock valued at $6,649,000 after purchasing an additional 95,547 shares during the period. Blue Trust Inc. grew its holdings in shares of Kymera Therapeutics by 74.8% in the fourth quarter. Blue Trust Inc. now owns 631 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the last quarter. KBC Group NV increased its stake in Kymera Therapeutics by 53.8% in the 4th quarter. KBC Group NV now owns 2,151 shares of the company’s stock worth $87,000 after buying an additional 752 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Kymera Therapeutics by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,733 shares of the company’s stock valued at $552,000 after buying an additional 1,311 shares in the last quarter.

Kymera Therapeutics Stock Performance

Shares of KYMR stock opened at $31.14 on Wednesday. Kymera Therapeutics, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $53.27. The firm has a market capitalization of $2.03 billion, a PE ratio of -13.31 and a beta of 2.18. The stock’s 50-day simple moving average is $29.55 and its 200-day simple moving average is $37.36.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Friday, May 9th. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.10. The company had revenue of $22.10 million during the quarter, compared to the consensus estimate of $11.38 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The firm’s quarterly revenue was up 114.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.69) earnings per share. Sell-side analysts forecast that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on KYMR shares. Stephens restated an “overweight” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research note on Tuesday, January 21st. Bank of America dropped their price objective on Kymera Therapeutics from $47.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday. Citigroup started coverage on Kymera Therapeutics in a report on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective for the company. HC Wainwright upped their target price on Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, UBS Group decreased their price target on shares of Kymera Therapeutics from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.27.

Insider Transactions at Kymera Therapeutics

In related news, CFO Bruce N. Jacobs sold 7,035 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $214,215.75. Following the completion of the transaction, the chief financial officer now owns 201,886 shares of the company’s stock, valued at approximately $6,147,428.70. This represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeremy G. Chadwick sold 1,383 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $42,112.35. Following the transaction, the chief operating officer now owns 67,800 shares in the company, valued at $2,064,510. This represents a 2.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,659 shares of company stock valued at $324,567 in the last 90 days. 15.82% of the stock is currently owned by company insiders.

About Kymera Therapeutics

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.