1832 Asset Management L.P. Acquires Shares of 136,000 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. acquired a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 136,000 shares of the company's stock, valued at approximately $24,521,000. 1832 Asset Management L.P. owned about 0.47% of Krystal Biotech as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KRYS. Nuveen LLC purchased a new stake in shares of Krystal Biotech during the first quarter valued at $42,223,000. T. Rowe Price Investment Management Inc. bought a new stake in Krystal Biotech during the 1st quarter valued at about $33,455,000. Soleus Capital Management L.P. boosted its position in Krystal Biotech by 65.2% in the 4th quarter. Soleus Capital Management L.P. now owns 358,379 shares of the company's stock valued at $56,144,000 after buying an additional 141,400 shares during the period. GAMMA Investing LLC boosted its position in Krystal Biotech by 50,249.4% in the 1st quarter. GAMMA Investing LLC now owns 121,342 shares of the company's stock valued at $21,878,000 after buying an additional 121,101 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Krystal Biotech by 16.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 509,459 shares of the company's stock worth $79,812,000 after acquiring an additional 71,200 shares in the last quarter. Hedge funds and other institutional investors own 86.29% of the company's stock.

Krystal Biotech Price Performance

NASDAQ KRYS traded up $3.12 on Thursday, hitting $150.76. The stock had a trading volume of 240,944 shares, compared to its average volume of 328,380. The business's fifty day moving average price is $145.15 and its 200 day moving average price is $154.34. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 30.64 and a beta of 0.70. Krystal Biotech, Inc. has a 52-week low of $122.80 and a 52-week high of $207.84.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $1.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $96.04 million for the quarter, compared to analyst estimates of $95.42 million. As a group, sell-side analysts anticipate that Krystal Biotech, Inc. will post 6.14 EPS for the current year.

Insider Activity

In related news, insider Suma Krishnan sold 13,435 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were 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 directly owned 1,443,276 shares of the company's stock, valued at $216,924,382.80. This trade represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 49,800 shares of company stock worth $7,487,943 in the last 90 days. Corporate insiders own 13.70% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on KRYS. HC Wainwright reissued a "buy" rating and issued a $240.00 price objective on shares of Krystal Biotech in a research note on Friday, August 22nd. Chardan Capital cut their price target 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. Guggenheim lowered their price objective on shares of Krystal Biotech from $195.00 to $189.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Bank of America cut their target price on shares of Krystal Biotech from $193.00 to $192.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Finally, Citigroup restated a "neutral" rating and issued a $166.00 price target (down previously from $176.00) on shares of Krystal Biotech in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $210.38.

Krystal Biotech Profile

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).