Bank of New York Mellon Corp acquired a new stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 163,610 shares of the company’s stock, valued at approximately $60,809,000.
Other large investors have also modified their holdings of the company. State of Wyoming purchased a new position in Krystal Biotech during the 2nd quarter worth approximately $1,772,000. EJMK Ventures LLC purchased a new stake in shares of Krystal Biotech in the 2nd quarter valued at $209,000. GSA Capital Partners LLP acquired a new stake in shares of Krystal Biotech in the second quarter worth $611,000. USA Financial Formulas acquired a new stake in shares of Krystal Biotech in the first quarter worth $44,000. Finally, Summit Global Investments purchased a new position in shares of Krystal Biotech during the second quarter worth $805,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have commented on KRYS. Citigroup upped their price target on shares of Krystal Biotech from $378.00 to $386.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $474.00 target price on shares of Krystal Biotech in a research note on Monday, July 13th. TD Cowen increased their price target on shares of Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Weiss Ratings lowered shares of Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Finally, Evercore reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Krystal Biotech in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $365.40.
Krystal Biotech Stock Up 1.0%
KRYS stock opened at $359.76 on Thursday. Krystal Biotech, Inc. has a 52 week low of $136.73 and a 52 week high of $382.54. The firm has a 50-day simple moving average of $348.38 and a 200-day simple moving average of $303.24. The stock has a market capitalization of $10.65 billion, a P/E ratio of 45.08 and a beta of 0.53.
Krystal Biotech (NASDAQ:KRYS – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.09. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%.The company had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $120.93 million. On average, analysts expect that Krystal Biotech, Inc. will post 7.68 earnings per share for the current year.
Insider Activity
In other Krystal Biotech news, insider Suma Krishnan sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $308.11, for a total value of $7,702,750.00. Following the transaction, the insider directly owned 1,378,155 shares of the company’s stock, valued at $424,623,337.05. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 stock was sold at an average price of $347.27, for a total value of $347,270.00. Following the transaction, the executive vice president owned 1,000 shares in the company, valued at approximately $347,270. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 51,000 shares of company stock worth $16,278,020 over the last quarter. 13.10% of the stock is currently owned by corporate 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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