Jennison Associates LLC Sells 80,748 Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Jennison Associates LLC cut its stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 10.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 716,933 shares of the company’s stock after selling 80,748 shares during the quarter. Jennison Associates LLC owned about 1.11% of Kymera Therapeutics worth $28,842,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in Kymera Therapeutics by 13.3% in the second quarter. The Manufacturers Life Insurance Company now owns 130,077 shares of the company’s stock valued at $3,883,000 after purchasing an additional 15,320 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Kymera Therapeutics by 35.2% in the 3rd quarter. SG Americas Securities LLC now owns 14,719 shares of the company’s stock worth $697,000 after buying an additional 3,832 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Kymera Therapeutics by 12.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,300 shares of the company’s stock worth $819,000 after buying an additional 1,900 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Kymera Therapeutics during the 3rd quarter worth approximately $61,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position 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 acquiring an additional 504 shares during the last quarter.

Insider Buying and Selling at Kymera Therapeutics

In other news, insider Ellen Chiniara sold 3,129 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $41.75, for a total value of $130,635.75. Following the sale, the insider now owns 54,826 shares in the company, valued at $2,288,985.50. This represents a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.82% of the company’s stock.

Analyst Ratings Changes

KYMR has been the topic of several analyst reports. UBS Group cut their price target on shares of Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Truist Financial restated a “buy” rating and set a $53.00 target price (down from $54.00) on shares of Kymera Therapeutics in a research note on Friday, November 1st. Guggenheim increased their price target on Kymera Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley boosted their price target 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, Wells Fargo & Company upgraded shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $57.00 in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.06.

Kymera Therapeutics Price Performance

Shares of Kymera Therapeutics stock opened at $38.73 on Wednesday. Kymera Therapeutics, Inc. has a 1 year low of $29.24 and a 1 year high of $53.27. The stock has a market cap of $2.51 billion, a PE ratio of -16.55 and a beta of 2.18. The firm has a fifty day moving average price of $42.12 and a 200 day moving average price of $44.65.

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.