Norges Bank Makes New Investment in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Norges Bank purchased a new position in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 91,231 shares of the company's stock, valued at approximately $3,670,000. Norges Bank owned 0.14% of Kymera Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KYMR. Blue Trust Inc. lifted its stake in shares of Kymera Therapeutics by 74.8% in the fourth quarter. Blue Trust Inc. now owns 631 shares of the company's stock worth $25,000 after acquiring an additional 270 shares in the last quarter. KBC Group NV raised its position in shares of Kymera Therapeutics by 53.8% in the 4th quarter. KBC Group NV now owns 2,151 shares of the company's stock valued at $87,000 after purchasing an additional 752 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Kymera Therapeutics during the 4th quarter valued at approximately $310,000. HighTower Advisors LLC bought a new stake in shares of Kymera Therapeutics in the third quarter worth $494,000. Finally, Arizona State Retirement System raised its holdings in Kymera Therapeutics by 15.5% in the fourth quarter. Arizona State Retirement System now owns 11,221 shares of the company's stock valued at $451,000 after acquiring an additional 1,503 shares in the last quarter.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, insider Ellen Chiniara sold 2,241 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 of the company's stock, valued at approximately $2,438,588.25. This trade represents a 2.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bruce N. Jacobs sold 7,035 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $214,215.75. Following the completion of the sale, the chief financial officer now directly owns 201,886 shares in the company, valued at $6,147,428.70. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,659 shares of company stock worth $324,567 over the last quarter. 15.82% of the stock is currently owned by company insiders.

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Kymera Therapeutics Stock Performance

Shares of NASDAQ:KYMR traded down $0.07 on Tuesday, hitting $25.36. The company's stock had a trading volume of 177,465 shares, compared to its average volume of 548,237. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -10.84 and a beta of 2.22. Kymera Therapeutics, Inc. has a 12 month low of $19.45 and a 12 month high of $53.27. The stock's 50-day moving average is $31.36 and its two-hundred day moving average is $39.53.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KYMR shares. Citigroup initiated coverage on shares of Kymera Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $52.00 target price for the company. Stephens reiterated an "overweight" rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research report on Tuesday, January 21st. HC Wainwright upped their price target on Kymera Therapeutics from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Leerink Partners reaffirmed an "outperform" rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a report on Friday, December 27th. Three equities research 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.36.

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.