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Kymera Therapeutics, Inc. (NASDAQ:KYMR), a $1.96 billion market cap biotech company, saw its Chief Financial Officer, Bruce N. Jacobs, engage in significant stock transactions as detailed in a recent SEC filing. The transactions come as the stock trades near its 52-week low of $29.16, having declined about 25% year-to-date. On March 3, 2025, Jacobs sold a total of 7,035 shares of the company’s common stock. These sales took place at prices ranging from $30.3271 to $31.0046 per share, resulting in a total transaction value of $214,219.
Additionally, Jacobs acquired 30,000 restricted stock units (RSUs) on the same day. Each RSU represents a contingent right to receive one share of Kymera’s common stock upon vesting. The RSUs are set to vest in three equal annual installments, contingent upon Jacobs’ continued employment with the company.
Furthermore, Jacobs was granted stock options for 60,000 shares, which will vest in 36 equal monthly installments starting March 3, 2025. This acquisition was recorded at a conversion price of $30.17 per share.
These transactions reflect routine movements in stock ownership by the company’s executive, with sales primarily aimed at covering tax obligations associated with the vesting of RSUs.
In other recent news, Kymera Therapeutics reported fourth quarter 2024 financial results, which did not meet analyst expectations. The company posted a loss of $0.88 per share, exceeding the anticipated loss of $0.77, and reported revenue of $7.39 million, significantly below the estimated $14.71 million. Collaboration revenues dropped to $7.4 million compared to $47.9 million in the same period the previous year, primarily due to its partnership with Sanofi (NASDAQ:SNY). Despite this, Kymera maintains a strong financial position with $851 million in cash reserves, expected to support operations until mid-2027. Analysts at Truist Securities have maintained a Buy rating for Kymera, citing confidence in the company’s technology and management. H.C. Wainwright also kept a Buy rating but adjusted the price target to $54 from $60, reflecting a cautious outlook. Kymera has announced a new performance stock unit plan for key employees to align their interests with shareholders, contingent on achieving specific clinical milestones. The company plans to report Phase 1 data for its STAT6 degrader KT-621 in June 2025 and initiate further clinical trials later in the year.
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