Orbimed Advisors LLC reduced its stake in Krystal Biotech, Inc. (NASDAQ:KRYS – Free Report) by 42.3% during the 1st quarter, Holdings Channel reports. The firm owned 69,100 shares of the company’s stock after selling 50,700 shares during the period. Orbimed Advisors LLC’s holdings in Krystal Biotech were worth $17,850,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Sound Income Strategies LLC lifted its stake in Krystal Biotech by 1,270.0% in the fourth quarter. Sound Income Strategies LLC now owns 137 shares of the company’s stock valued at $34,000 after buying an additional 127 shares during the period. Greenline Wealth Management LLC acquired a new position in shares of Krystal Biotech during the 4th quarter worth about $34,000. Danske Bank A S acquired a new position in shares of Krystal Biotech during the 3rd quarter worth about $35,000. UMB Bank n.a. increased its stake in shares of Krystal Biotech by 34.6% in the 4th quarter. UMB Bank n.a. now owns 144 shares of the company’s stock valued at $36,000 after acquiring an additional 37 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Krystal Biotech by 788.9% in the 4th quarter. Global Retirement Partners LLC now owns 160 shares of the company’s stock valued at $39,000 after acquiring an additional 142 shares during the last quarter. 86.29% of the stock is owned by institutional investors and hedge funds.
Krystal Biotech Stock Performance
Shares of KRYS opened at $335.19 on Monday. The stock has a 50 day simple moving average of $333.77 and a 200 day simple moving average of $292.86. Krystal Biotech, Inc. has a 52-week low of $130.50 and a 52-week high of $382.54. The firm has a market capitalization of $9.88 billion, a PE ratio of 44.81 and a beta of 0.50.
Insiders Place Their Bets
In other news, insider Suma Krishnan sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $308.11, for a total value of $7,702,750.00. Following the sale, the insider directly owned 1,378,155 shares in the company, valued at $424,623,337.05. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Charles Thomas sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $347.27, for a total value of $347,270.00. Following the completion of the sale, the executive vice president owned 1,000 shares in the company, valued at $347,270. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 26,642 shares of company stock worth $8,243,923. 13.10% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Krystal Biotech from $364.00 to $396.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings lowered shares of Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Citigroup lifted their price target on shares of Krystal Biotech from $371.00 to $378.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. TD Cowen boosted their price target on shares of Krystal Biotech from $306.00 to $403.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $474.00 price objective on shares of Krystal Biotech in a research report on Monday, July 13th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.
Check Out Our Latest Report on KRYS
Krystal Biotech Company Profile
Krystal Biotech, Inc is a clinical-stage biotechnology company focused on developing gene therapies for rare dermatological diseases. Headquartered in Pittsburgh, Pennsylvania, the company applies proprietary viral vector delivery technology to enable topical administration of corrective genes directly to the skin. By targeting the underlying genetic causes of inherited skin disorders, Krystal Biotech seeks to address areas of high unmet medical need with potentially transformative treatments.
The company’s lead product candidate, KB103, is designed to deliver a functional COL7A1 gene to patients with dystrophic epidermolysis bullosa (DEB), a severe and often debilitating blistering condition.
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