Kymera Therapeutics, Inc. (NASDAQ:KYMR) is Redmile Group LLC's 5th Largest Position

Redmile Group LLC lowered its position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 11.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,393,256 shares of the company's stock after selling 186,019 shares during the quarter. Kymera Therapeutics accounts for approximately 3.9% of Redmile Group LLC's investment portfolio, making the stock its 5th biggest holding. Redmile Group LLC owned 2.15% of Kymera Therapeutics worth $65,943,000 at the end of the most recent quarter.

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

Kymera Therapeutics Trading Down 4.2 %

Shares of KYMR traded down $1.94 during mid-day trading on Thursday, reaching $44.08. The company's stock had a trading volume of 286,681 shares, compared to its average volume of 582,690. Kymera Therapeutics, Inc. has a 52 week low of $20.76 and a 52 week high of $53.27. The stock has a market cap of $2.85 billion, a PE ratio of -18.84 and a beta of 2.16. The company's fifty day moving average price is $46.44 and its two-hundred day moving average price is $42.47.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $3.74 million during the quarter, compared to analyst estimates of $10.34 million. During the same period in the prior year, the business posted ($0.90) earnings per share. The company's revenue 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.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KYMR. Guggenheim raised their target price on Kymera Therapeutics from $45.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Wolfe Research upgraded 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. Stephens initiated coverage on shares of Kymera Therapeutics in a report on Monday, November 18th. They set an "overweight" rating and a $65.00 price objective on the stock. Morgan Stanley lifted their target price on shares of 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, UBS Group dropped their price target on shares of Kymera Therapeutics from $80.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.40.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Pamela Esposito sold 13,500 shares of the firm's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total value of $651,780.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 15.82% of the stock is currently owned by company insiders.

Kymera Therapeutics 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.