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

Fred Alger Management LLC purchased a new position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 18,141 shares of the company's stock, valued at approximately $859,000.

A number of other hedge funds also recently modified their holdings of KYMR. Jennison Associates LLC increased its position in Kymera Therapeutics by 85.8% in the third quarter. Jennison Associates LLC now owns 797,681 shares of the company's stock worth $37,754,000 after buying an additional 368,394 shares during the last quarter. FMR LLC increased its holdings in Kymera Therapeutics by 5.8% in the 3rd quarter. FMR LLC now owns 5,109,141 shares of the company's stock worth $241,816,000 after acquiring an additional 282,301 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in Kymera Therapeutics in the 2nd quarter valued at about $6,669,000. Renaissance Technologies LLC purchased a new stake in Kymera Therapeutics during the second quarter valued at about $4,271,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Kymera Therapeutics during the second quarter valued at about $1,910,000.

Kymera Therapeutics Price Performance

KYMR stock traded up $0.89 during mid-day trading on Monday, hitting $47.74. 558,648 shares of the stock were exchanged, compared to its average volume of 585,452. The business has a fifty day moving average price of $46.82 and a 200 day moving average price of $42.26. Kymera Therapeutics, Inc. has a 12 month low of $20.32 and a 12 month high of $53.27. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -20.48 and a beta of 2.21.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) earnings per share for the quarter, beating analysts' consensus estimates of ($0.83) by $0.01. The company had revenue of $3.74 million for the quarter, compared to analysts' expectations of $10.34 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. Kymera Therapeutics's revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.90) EPS. As a group, equities analysts forecast that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Pamela Esposito sold 13,500 shares of the company's stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KYMR. Leerink Partnrs raised shares of Kymera Therapeutics to a "strong-buy" rating in a research report on Monday, September 9th. Stephens initiated coverage on Kymera Therapeutics in a research report on Monday, November 18th. They set an "overweight" rating and a $65.00 target price on the stock. Oppenheimer boosted their price objective on Kymera Therapeutics from $52.00 to $56.00 and gave the company an "outperform" rating in a research note on Friday, September 27th. Morgan Stanley raised their target price on Kymera Therapeutics from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 6th. Finally, Wolfe Research upgraded Kymera Therapeutics from a "peer perform" rating to an "outperform" rating and set a $65.00 price target on the stock in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Kymera Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $53.40.

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.