Bank of America Corp DE Invests $95.31 Million in Krystal Biotech, Inc. $KRYS

Key Points

• Bank of America initiated a $95.31 million stake in Krystal Biotech during the second quarter, acquiring 256,431 shares, or approximately 0.87% of the company. Institutional investors collectively own 86.29% of KRYS.
• Krystal Biotech reported quarterly EPS of $1.79, topping the $1.70 consensus estimate, while revenue of $119.22 million fell slightly short of expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $365.40.
• KRYS shares opened at $336.67, below their $382.54 52-week high. Meanwhile, insiders sold 51,000 shares worth approximately $17.56 million during the latest quarter.

Bank of America Corp DE bought a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 256,431 shares of the company's stock, valued at approximately $95,308,000. Bank of America Corp DE owned about 0.87% of Krystal Biotech as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KRYS. BlackRock Inc. purchased a new stake in shares of Krystal Biotech in the 2nd quarter valued at $1,554,113,000. Avoro Capital Advisors LLC grew its position in Krystal Biotech by 4.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,888,888 shares of the company's stock valued at $712,226,000 after acquiring an additional 111,111 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Krystal Biotech during the second quarter worth about $211,909,000. Jupiter Topco LLC purchased a new stake in Krystal Biotech during the second quarter worth about $95,387,000. Finally, First Trust Advisors LP lifted its position in shares of Krystal Biotech by 42.9% during the first quarter. First Trust Advisors LP now owns 350,521 shares of the company's stock worth $90,547,000 after purchasing an additional 105,245 shares in the last quarter. Hedge funds and other institutional investors own 86.29% of the company's stock.

Krystal Biotech Stock Down 0.6%

KRYS opened at $336.67 on Friday. Krystal Biotech, Inc. has a 52 week low of $158.08 and a 52 week high of $382.54. The business has a 50 day moving average price of $344.05 and a two-hundred day moving average price of $312.28. The company has a market cap of $9.97 billion, a PE ratio of 42.19 and a beta of 0.54.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.09. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%.The business had revenue of $119.22 million for the quarter, compared to analyst estimates of $120.93 million. As a group, sell-side analysts expect that Krystal Biotech, Inc. will post 7.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on KRYS. Chardan Capital raised shares of Krystal Biotech to a "strong-buy" rating in a research note on Monday, August 3rd. Royal Bank Of Canada started coverage on shares of Krystal Biotech in a research note on Friday, August 14th. They set an "outperform" rating and a $400.00 target price on the stock. Bank of America increased their target price on shares of Krystal Biotech from $364.00 to $396.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Krystal Biotech from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, HC Wainwright upped their price objective on Krystal Biotech from $310.00 to $361.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $365.40.

Insiders Place Their Bets

In other news, Director Dino Rossi sold 25,000 shares of the firm's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $329.12, for a total value of $8,228,000.00. Following the completion of the sale, the director owned 50,000 shares in the company, valued at approximately $16,456,000. This trade represents a 33.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $359.32, for a total transaction of $8,983,000.00. Following the completion of the sale, the insider directly owned 1,302,145 shares in the company, valued at approximately $467,886,741.40. The trade was a 1.88% 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. In the last quarter, insiders sold 51,000 shares of company stock worth $17,558,270. 13.10% of the stock is owned by insiders.

Krystal Biotech Profile

Krystal Biotech, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. The company uses engineered herpes simplex virus type 1 (HSV-1) vectors to deliver functional genes to targeted tissues, with an emphasis on treatments that can be administered directly to affected areas.

Krystal Biotech's lead product is Vyjuvek (beremagene geperpavec-svdt), a topical gene therapy for wounds associated with dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and recurrent blistering.

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