ADAR1 Capital Management LLC Takes Position in Krystal Biotech, Inc. $KRYS

Key Points

• ADAR1 Capital Management initiated a 16,420-share position in Krystal Biotech valued at approximately $6.1 million, while institutional investors collectively own 86.29% of the company.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $365.40. Recent targets range from $361 to $474.
• Krystal Biotech reported quarterly EPS of $1.79, exceeding estimates of $1.70, though revenue of $119.22 million fell slightly short of expectations. The stock opened at $356.19 and trades near its 52-week high of $382.54.

ADAR1 Capital Management LLC bought a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,420 shares of the company's stock, valued at approximately $6,103,000. ADAR1 Capital Management LLC owned about 0.06% of Krystal Biotech as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of KRYS. BlackRock Inc. bought a new stake in shares of Krystal Biotech during the 2nd quarter worth approximately $1,554,113,000. Avoro Capital Advisors LLC grew its stake in shares of Krystal Biotech by 4.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,888,888 shares of the company's stock valued at $712,226,000 after buying an additional 111,111 shares in the last quarter. State Street Corp increased its holdings in Krystal Biotech by 10.5% during the second quarter. State Street Corp now owns 1,355,346 shares of the company's stock worth $186,306,000 after buying an additional 128,639 shares during the last quarter. Soleus Capital Management L.P. increased its holdings in Krystal Biotech by 108.9% during the second quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company's stock worth $126,870,000 after buying an additional 481,200 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Krystal Biotech during the second quarter worth $211,909,000. Institutional investors own 86.29% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America lifted their price objective on shares of Krystal Biotech from $364.00 to $396.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $474.00 target price on shares of Krystal Biotech in a report on Monday, July 13th. HC Wainwright raised their target price on shares of Krystal Biotech from $310.00 to $361.00 and gave the company a "buy" rating in a research note on Tuesday, June 16th. Citigroup lifted their price target on Krystal Biotech from $378.00 to $386.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Finally, TD Cowen boosted their price target on Krystal Biotech from $306.00 to $403.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. One investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $365.40.

Insiders Place Their Bets

In other news, EVP John Charles Thomas sold 1,000 shares of the company'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 of the company's stock, valued at approximately $347,270. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suma Krishnan sold 25,000 shares of the company'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 completion of the transaction, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 51,000 shares of company stock worth $16,278,020 over the last three months. Insiders own 13.10% of the company's stock.

Krystal Biotech Price Performance

KRYS stock opened at $356.19 on Wednesday. Krystal Biotech, Inc. has a one year low of $136.73 and a one year high of $382.54. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 44.64 and a beta of 0.53. The company has a fifty day moving average price of $348.02 and a two-hundred day moving average price of $302.59.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.09. Krystal Biotech had a net margin of 54.82% and a return on equity of 19.34%. The company had revenue of $119.22 million for the quarter, compared to analyst estimates of $120.93 million. Research analysts anticipate that Krystal Biotech, Inc. will post 7.68 EPS for the current fiscal year.

About Krystal Biotech

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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