Norges Bank Buys New Shares in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Norges Bank purchased a new stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 91,231 shares of the company’s stock, valued at approximately $3,670,000. Norges Bank owned about 0.14% of Kymera Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of Kymera Therapeutics by 74.8% during the 4th quarter. Blue Trust Inc. now owns 631 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Kymera Therapeutics by 1.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 40,987 shares of the company’s stock worth $1,649,000 after acquiring an additional 684 shares in the last quarter. KBC Group NV lifted its stake in Kymera Therapeutics by 53.8% in the fourth quarter. KBC Group NV now owns 2,151 shares of the company’s stock valued at $87,000 after acquiring an additional 752 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Kymera Therapeutics by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,733 shares of the company’s stock valued at $552,000 after acquiring an additional 1,311 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Kymera Therapeutics by 15.5% during the 4th quarter. Arizona State Retirement System now owns 11,221 shares of the company’s stock worth $451,000 after purchasing an additional 1,503 shares during the last quarter.

Kymera Therapeutics Stock Performance

NASDAQ:KYMR opened at $22.40 on Friday. Kymera Therapeutics, Inc. has a 52 week low of $19.45 and a 52 week high of $53.27. The firm’s 50-day simple moving average is $31.91 and its 200 day simple moving average is $39.95. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -9.57 and a beta of 2.22.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.12). The business had revenue of $7.39 million for the quarter, compared to the consensus estimate of $14.81 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. Sell-side analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research note on Tuesday, January 21st. Citigroup initiated coverage on Kymera Therapeutics in a research report on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective for the company. Leerink Partners reissued an “outperform” rating and set a $60.00 target price on shares of Kymera Therapeutics in a report on Friday, December 27th. Finally, HC Wainwright raised their price target on Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.36.

Insiders Place Their Bets

In related news, CFO Bruce N. Jacobs sold 7,035 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.45, for a total transaction of $214,215.75. Following the completion of the sale, the chief financial officer now owns 201,886 shares of the company’s stock, valued at $6,147,428.70. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ellen Chiniara sold 2,241 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.45, for a total transaction of $68,238.45. Following the completion of the transaction, the insider now directly owns 80,085 shares in the company, valued at approximately $2,438,588.25. This represents a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,659 shares of company stock worth $324,567 in the last 90 days. Company insiders own 15.82% of the company’s stock.

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.