Palisade Capital Management LP acquired a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,065 shares of the company’s stock, valued at approximately $3,741,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Silvant Capital Management LLC acquired a new stake in Krystal Biotech in the 2nd quarter valued at $30,000. Western Wealth Management LLC acquired a new position in Krystal Biotech during the first quarter worth $34,000. Greenline Wealth Management LLC purchased a new position in Krystal Biotech during the fourth quarter valued at $34,000. UMB Bank n.a. lifted its holdings in Krystal Biotech by 34.6% during the fourth quarter. UMB Bank n.a. now owns 144 shares of the company’s stock valued at $36,000 after purchasing an additional 37 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Krystal Biotech by 788.9% in the fourth quarter. Global Retirement Partners LLC now owns 160 shares of the company’s stock valued at $39,000 after purchasing an additional 142 shares during the period. 86.29% of the stock is currently owned by hedge funds and other institutional investors.
Krystal Biotech Trading Up 4.2%
Shares of NASDAQ KRYS opened at $356.19 on Wednesday. The stock has a market cap of $10.54 billion, a PE ratio of 44.64 and a beta of 0.53. Krystal Biotech, Inc. has a 12-month low of $136.73 and a 12-month high of $382.54. The company has a 50-day moving average of $348.02 and a 200 day moving average of $302.59.
Analyst Ratings Changes
KRYS has been the topic of a number of research reports. Royal Bank Of Canada started coverage on shares of Krystal Biotech in a research note on Friday, August 14th. They issued an “outperform” rating and a $400.00 price target on the stock. Citigroup increased their target price on Krystal Biotech from $378.00 to $386.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded Krystal Biotech from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. TD Cowen lifted their price target on Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $474.00 price target on shares of Krystal Biotech in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Krystal Biotech has a consensus rating of “Moderate Buy” and a consensus target price of $365.40.
Read Our Latest Analysis on Krystal Biotech
Insider Activity at Krystal Biotech
In other Krystal Biotech news, EVP John Charles Thomas sold 1,000 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $347.27, for a total transaction of $347,270.00. Following the transaction, the executive vice president owned 1,000 shares of the company’s stock, valued at approximately $347,270. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dino A. Rossi sold 25,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $329.12, for a total value of $8,228,000.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $16,456,000. The trade was a 33.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 51,000 shares of company stock valued at $16,278,020. 13.10% of the stock is currently owned by insiders.
Krystal Biotech 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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