Connor Clark & Lunn Investment Management Ltd. Buys Shares of 149,908 Kymera Therapeutics, Inc. $KYMR

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 149,908 shares of the company’s stock, valued at approximately $17,190,000. Connor Clark & Lunn Investment Management Ltd. owned 0.18% of Kymera Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Kymera Therapeutics during the 2nd quarter valued at about $635,067,000. Baker BROS. Advisors LP increased its stake in shares of Kymera Therapeutics by 30.2% in the fourth quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company’s stock valued at $673,620,000 after purchasing an additional 2,005,813 shares during the period. Avoro Capital Advisors LLC raised its holdings in shares of Kymera Therapeutics by 17.7% during the fourth quarter. Avoro Capital Advisors LLC now owns 7,474,747 shares of the company’s stock valued at $581,610,000 after buying an additional 1,124,747 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Kymera Therapeutics by 20.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,159,335 shares of the company’s stock valued at $479,258,000 after buying an additional 1,061,957 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Kymera Therapeutics by 15.6% during the fourth quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company’s stock valued at $487,685,000 after buying an additional 845,922 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wall Street Zen raised Kymera Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen raised Kymera Therapeutics to a “strong-buy” rating in a research note on Monday. Guggenheim boosted their price target on Kymera Therapeutics from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Morgan Stanley reissued an “overweight” rating and issued a $135.00 price target on shares of Kymera Therapeutics in a research note on Thursday, August 6th. Finally, Truist Financial raised their price target on Kymera Therapeutics from $116.00 to $136.00 and gave the company a “buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.65.

Kymera Therapeutics Price Performance

NASDAQ KYMR opened at $126.64 on Wednesday. Kymera Therapeutics, Inc. has a 12 month low of $39.84 and a 12 month high of $130.05. The firm has a market capitalization of $10.53 billion, a PE ratio of -39.09 and a beta of 1.95. The company’s 50 day simple moving average is $110.92 and its 200 day simple moving average is $92.80.

Kymera Therapeutics (NASDAQ:KYMR) last released its earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.09. The firm had revenue of $65.00 million during the quarter, compared to the consensus estimate of $32.78 million. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The firm’s revenue for the quarter was up 465.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.95) earnings per share. Sell-side analysts anticipate that Kymera Therapeutics, Inc. will post -3.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bvf Partners L. P/Il sold 1,578,800 shares of Kymera Therapeutics stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $106.50, for a total transaction of $168,142,200.00. Following the transaction, the director directly owned 240,123 shares of the company’s stock, valued at $25,573,099.50. The trade was a 86.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce Booth sold 31,283 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $109.48, for a total transaction of $3,424,862.84. Following the completion of the sale, the director owned 461,794 shares in the company, valued at approximately $50,557,207.12. This trade represents a 6.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 3,587,629 shares of company stock worth $386,183,782. 15.98% of the stock is owned by corporate insiders.

Kymera Therapeutics Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.