Jennison Associates LLC Purchases 368,394 Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Jennison Associates LLC grew its holdings in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) by 85.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 797,681 shares of the company's stock after purchasing an additional 368,394 shares during the period. Jennison Associates LLC owned approximately 1.23% of Kymera Therapeutics worth $37,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Investment Partners Inc. grew its holdings in shares of Kymera Therapeutics by 7.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,070 shares of the company's stock worth $164,000 after acquiring an additional 295 shares during the last quarter. Comerica Bank increased its stake in Kymera Therapeutics by 13.7% in the 1st quarter. Comerica Bank now owns 3,324 shares of the company's stock worth $134,000 after purchasing an additional 400 shares in the last quarter. Keudell Morrison Wealth Management raised its holdings in Kymera Therapeutics by 7.2% during the 2nd quarter. Keudell Morrison Wealth Management now owns 7,105 shares of the company's stock worth $212,000 after buying an additional 480 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $114,000 after buying an additional 504 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in shares of Kymera Therapeutics by 6.4% in the first quarter. American International Group Inc. now owns 20,095 shares of the company's stock worth $808,000 after buying an additional 1,209 shares during the period.

Insider Activity

In related news, Director Jeffrey W. Albers sold 5,000 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.10, for a total value of $245,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela Esposito sold 13,500 shares of the business'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 value of $651,780.00. The disclosure for this sale can be found here. 15.82% of the stock is owned by corporate insiders.

Kymera Therapeutics Stock Performance

NASDAQ:KYMR traded up $1.95 on Friday, hitting $45.46. 274,283 shares of the stock were exchanged, compared to its average volume of 585,441. Kymera Therapeutics, Inc. has a 52 week low of $18.89 and a 52 week high of $53.27. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -18.85 and a beta of 2.21. The company's 50-day moving average price is $46.99 and its 200 day moving average price is $41.83.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, topping analysts' consensus estimates of ($0.83) by $0.01. The business had revenue of $3.74 million during 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%. The firm's quarterly revenue was down 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.90) earnings per share. As a group, equities research analysts predict that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on KYMR shares. Leerink Partnrs upgraded Kymera Therapeutics to a "strong-buy" rating in a report on Monday, September 9th. Oppenheimer raised their price objective on Kymera Therapeutics from $52.00 to $56.00 and gave the stock an "outperform" rating in a research report on Friday, September 27th. Guggenheim upped their target price on Kymera Therapeutics from $45.00 to $52.00 and gave the company a "buy" rating in a report on Friday, November 1st. Stephens initiated coverage on shares of Kymera Therapeutics in a report on Monday. They set an "overweight" rating and a $65.00 price target for the company. Finally, Wolfe Research upgraded shares of Kymera Therapeutics from a "peer perform" rating to an "outperform" rating and set a $65.00 target price for the company in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock 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.