Bank of America Corp DE Increases Stock Position in Krystal Biotech, Inc. $KRYS

Key Points

• Bank of America increased its Krystal Biotech stake by 36.6% in the first quarter, bringing its holdings to 260,647 shares valued at approximately $67.3 million. Institutional investors collectively own 86.29% of the company.
• Krystal Biotech reported quarterly earnings of $1.79 per share, exceeding estimates of $1.70, while revenue of $119.22 million fell slightly short of expectations. Analysts project full-year earnings of $7.68 per share.
• Analyst sentiment remains positive, with one Strong Buy, nine Buy, and two Hold ratings; the stock has a “Moderate Buy” consensus and an average price target of $361.56. Shares recently opened at $331.59, below their 52-week high of $382.54.

Bank of America Corp DE boosted its stake in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 36.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 260,647 shares of the company's stock after buying an additional 69,840 shares during the quarter. Bank of America Corp DE owned approximately 0.88% of Krystal Biotech worth $67,330,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Soleus Capital Management L.P. grew its holdings in shares of 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 in the last quarter. Norges Bank acquired a new stake in Krystal Biotech during the fourth quarter worth approximately $70,159,000. William Blair Investment Management LLC boosted its position in Krystal Biotech by 152.1% during the fourth quarter. William Blair Investment Management LLC now owns 376,340 shares of the company's stock worth $92,783,000 after acquiring an additional 227,038 shares during the last quarter. Janus Henderson Group PLC grew its stake in Krystal Biotech by 2,078.9% in the 4th quarter. Janus Henderson Group PLC now owns 219,440 shares of the company's stock worth $54,147,000 after acquiring an additional 209,369 shares during the period. Finally, UBS Group AG grew its stake in Krystal Biotech by 970.8% in the 4th quarter. UBS Group AG now owns 159,595 shares of the company's stock worth $39,347,000 after acquiring an additional 177,922 shares during the period. Hedge funds and other institutional investors own 86.29% of the company's stock.

Krystal Biotech Stock Performance

Shares of KRYS stock opened at $331.59 on Tuesday. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 41.55 and a beta of 0.53. Krystal Biotech, Inc. has a one year low of $136.73 and a one year high of $382.54. The company has a 50 day moving average price of $342.05 and a 200 day moving average price of $298.09.

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

Insiders Place Their Bets

In other Krystal Biotech news, EVP John Charles Thomas sold 1,000 shares of the company's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $347.27, for a total transaction of $347,270.00. Following the completion of the sale, the executive vice president directly owned 1,000 shares in the company, valued at $347,270. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suma Krishnan sold 25,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was 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 owned 1,378,155 shares in the company, valued at approximately $424,623,337.05. This trade represents a 1.78% 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 sold 26,642 shares of company stock worth $8,243,923 in the last quarter. 13.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on KRYS. TD Cowen increased 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. Evercore reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of Krystal Biotech in a research report on Tuesday, May 5th. Chardan Capital raised Krystal Biotech to a "strong-buy" rating in a research report on Monday, August 3rd. Wall Street Zen lowered Krystal Biotech from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, Citigroup increased their target price on Krystal Biotech from $378.00 to $386.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $361.56.

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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