Fred Alger Management LLC Purchases Shares of 18,141 Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Fred Alger Management LLC acquired a new position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,141 shares of the company’s stock, valued at approximately $859,000.

A number of other large investors have also made changes to their positions in KYMR. Values First Advisors Inc. bought a new stake in shares of Kymera Therapeutics during the third quarter valued at approximately $61,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Kymera Therapeutics by 27.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock worth $114,000 after buying an additional 504 shares in the last quarter. Comerica Bank raised its stake in shares of Kymera Therapeutics by 13.7% in the 1st quarter. Comerica Bank now owns 3,324 shares of the company’s stock valued at $134,000 after buying an additional 400 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Kymera Therapeutics during the 2nd quarter worth about $139,000. Finally, Quest Partners LLC boosted its position in shares of Kymera Therapeutics by 1,402.0% during the 2nd quarter. Quest Partners LLC now owns 5,212 shares of the company’s stock valued at $156,000 after acquiring an additional 4,865 shares in the last quarter.

Kymera Therapeutics Price Performance

KYMR stock opened at $46.85 on Monday. The stock has a market capitalization of $3.03 billion, a PE ratio of -20.02 and a beta of 2.21. The company has a 50 day moving average price of $46.82 and a 200 day moving average price of $42.26. Kymera Therapeutics, Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last released its earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.01. The company had revenue of $3.74 million during the quarter, compared to the consensus estimate of $10.34 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The firm’s quarterly revenue was down 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.90) earnings per share. As a group, equities analysts expect that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

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

Analyst Ratings Changes

Several research firms recently issued reports on KYMR. Oppenheimer increased their price target on shares of Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. UBS Group dropped their target price on Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating for the company in a report on Monday, November 4th. Leerink Partners reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Kymera Therapeutics in a research note on Monday, September 9th. Leerink Partnrs upgraded Kymera Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Finally, Truist Financial restated a “buy” rating and issued a $53.00 target price (down previously from $54.00) on shares of Kymera Therapeutics in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.13.

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.