Franklin Resources Inc. Raises Stake in Kymera Therapeutics, Inc. (NASDAQ:KYMR)

Franklin Resources Inc. boosted its holdings in shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) by 35.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,440 shares of the company’s stock after buying an additional 7,647 shares during the quarter. Franklin Resources Inc.’s holdings in Kymera Therapeutics were worth $1,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KYMR. Wellington Management Group LLP increased its stake in shares of Kymera Therapeutics by 7.2% in the third quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company’s stock worth $218,587,000 after acquiring an additional 308,954 shares during the period. Quarry LP purchased a new stake in Kymera Therapeutics in the third quarter valued at $95,000. HighTower Advisors LLC acquired a new stake in Kymera Therapeutics during the 3rd quarter worth about $494,000. HighVista Strategies LLC purchased a new position in shares of Kymera Therapeutics during the 3rd quarter valued at about $603,000. Finally, Cinctive Capital Management LP acquired a new position in shares of Kymera Therapeutics in the 3rd quarter valued at about $2,688,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group dropped their target price on Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Guggenheim raised their price objective on shares of Kymera Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. BTIG Research began coverage on shares of Kymera Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $60.00 target price for the company. Oppenheimer increased their price target on shares of Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Finally, BMO Capital Markets initiated coverage on shares of Kymera Therapeutics in a report on Friday, December 6th. They issued a “market perform” rating and a $55.00 price objective for the company. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.88.

Kymera Therapeutics Trading Down 4.5 %

NASDAQ:KYMR opened at $40.11 on Friday. The stock has a 50 day moving average of $45.44 and a two-hundred day moving average of $43.41. Kymera Therapeutics, Inc. has a 12 month low of $22.35 and a 12 month high of $53.27. The firm has a market cap of $2.60 billion, a P/E ratio of -17.14 and a beta of 2.16.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.01. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The firm had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $10.34 million. During the same period in the previous year, the business earned ($0.90) earnings per share. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. On average, research analysts forecast that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

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.