1832 Asset Management L.P. Invests $24.52 Million in Krystal Biotech, Inc. $KRYS

Key Points

• 1832 Asset Management L.P. has taken a new position in Krystal Biotech, Inc., acquiring 136,000 shares worth approximately $24.52 million, which represents 0.47% ownership of the company.
• Multiple institutional investors, including Brooklyn Investment Group and FIFTH Third Bancorp, have significantly increased their stakes in Krystal Biotech, highlighting growing interest in the company.
• Krystal Biotech's stock recently opened at $150.49 with a market capitalization of $4.36 billion, despite being affected by analysts lowering price targets and maintaining a strong "buy" consensus rating overall.

1832 Asset Management L.P. bought a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 136,000 shares of the company's stock, valued at approximately $24,521,000. 1832 Asset Management L.P. owned 0.47% of Krystal Biotech at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Advantage Alpha Capital Partners LP bought a new stake in shares of Krystal Biotech in the first quarter valued at $643,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Krystal Biotech in the first quarter valued at $33,455,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Krystal Biotech in the first quarter valued at $74,000. Brooklyn Investment Group raised its stake in shares of Krystal Biotech by 291.7% in the first quarter. Brooklyn Investment Group now owns 141 shares of the company's stock valued at $25,000 after buying an additional 105 shares during the period. Finally, Fox Run Management L.L.C. raised its stake in shares of Krystal Biotech by 8.9% in the first quarter. Fox Run Management L.L.C. now owns 2,354 shares of the company's stock valued at $424,000 after buying an additional 193 shares during the period. 86.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Suma Krishnan sold 13,435 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $150.30, for a total value of $2,019,280.50. Following the completion of the transaction, the insider owned 1,443,276 shares of the company's stock, valued at approximately $216,924,382.80. This represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 49,800 shares of company stock valued at $7,487,943. 13.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KRYS has been the topic of a number of analyst reports. Guggenheim decreased their price objective on Krystal Biotech from $195.00 to $189.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Bank of America decreased their price objective on Krystal Biotech from $193.00 to $192.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Chardan Capital decreased their price objective on Krystal Biotech from $219.00 to $216.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. HC Wainwright reiterated a "buy" rating and set a $240.00 price objective on shares of Krystal Biotech in a research note on Friday, August 22nd. Finally, Citigroup reiterated a "neutral" rating and set a $166.00 price objective (down from $176.00) on shares of Krystal Biotech in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $210.38.

Krystal Biotech Trading Down 1.8%

NASDAQ KRYS traded down $2.73 on Friday, hitting $148.04. The company's stock had a trading volume of 60,737 shares, compared to its average volume of 327,305. Krystal Biotech, Inc. has a 52-week low of $122.80 and a 52-week high of $207.84. The company's 50-day simple moving average is $145.52 and its 200 day simple moving average is $154.32. The firm has a market cap of $4.28 billion, a P/E ratio of 30.08 and a beta of 0.70.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.21. Krystal Biotech had a return on equity of 15.21% and a net margin of 40.85%.The business had revenue of $96.04 million during the quarter, compared to analysts' expectations of $95.42 million. On average, research analysts forecast that Krystal Biotech, Inc. will post 6.14 EPS for the current fiscal year.

About Krystal Biotech

Krystal Biotech, Inc, a commercial-stage biotechnology company, discovers, develops, and commercializes genetic medicines for patients with rare diseases in the United States. It commercializes VYJUVEK (beremagene geperpavec-svdt, or B-VEC) for the treatment of dystrophic epidermolysis bullosa (DEB).