Biondo Investment Advisors LLC Takes Position in Krystal Biotech, Inc. $KRYS

Key Points

• Biondo Investment Advisors acquired 70,945 Krystal Biotech shares worth approximately $26.4 million, making KRYS its eighth-largest holding and representing about 3.2% of its portfolio. Institutional investors collectively own 86.29% of the company.
• Krystal Biotech reported quarterly EPS of $1.79, exceeding the $1.70 analyst consensus, while revenue reached $119.22 million versus the $120.93 million estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $365.40.
• KRYS recently traded at $346.58, near its 50-day average and below its 12-month high of $382.54. Insiders sold 51,642 shares worth approximately $16.5 million over the past 90 days.

Biondo Investment Advisors LLC bought a new position in shares of 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 (SEC). The institutional investor bought 70,945 shares of the company's stock, valued at approximately $26,368,000. Krystal Biotech accounts for about 3.2% of Biondo Investment Advisors LLC's holdings, making the stock its 8th largest holding. Biondo Investment Advisors LLC owned approximately 0.24% of Krystal Biotech at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in Krystal Biotech by 145.2% during the 1st quarter. Royal Bank of Canada now owns 1,628 shares of the company's stock worth $294,000 after acquiring an additional 964 shares during the period. AQR Capital Management LLC increased its holdings in shares of Krystal Biotech by 29.9% in the first quarter. AQR Capital Management LLC now owns 12,131 shares of the company's stock valued at $2,187,000 after purchasing an additional 2,792 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Krystal Biotech by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,893 shares of the company's stock valued at $2,870,000 after purchasing an additional 688 shares during the period. Empowered Funds LLC purchased a new stake in shares of Krystal Biotech during the first quarter worth approximately $218,000. Finally, Cetera Investment Advisers raised its stake in shares of Krystal Biotech by 107.9% during the second quarter. Cetera Investment Advisers now owns 4,344 shares of the company's stock worth $597,000 after purchasing an additional 2,255 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company's stock.

Insiders Place Their Bets

In other news, insider Suma Krishnan sold 25,000 shares of the stock in a transaction dated 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 owned 1,378,155 shares in the company, valued at $424,623,337.05. This trade represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dino A. Rossi sold 25,000 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $329.12, for a total transaction of $8,228,000.00. Following the completion of the sale, the director owned 50,000 shares of the company's stock, valued at $16,456,000. This trade represents a 33.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 51,642 shares of company stock worth $16,471,923. Corporate insiders own 13.10% of the company's stock.

Krystal Biotech Price Performance

KRYS opened at $346.58 on Monday. The business has a 50 day simple moving average of $347.03 and a 200-day simple moving average of $301.54. The stock has a market capitalization of $10.26 billion, a P/E ratio of 43.43 and a beta of 0.53. Krystal Biotech, Inc. has a 12 month low of $136.73 and a 12 month high of $382.54.

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

Wall Street Analyst Weigh In

KRYS has been the subject of several recent research reports. Weiss Ratings downgraded Krystal Biotech from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. Evercore reissued an "outperform" rating and issued a $300.00 price objective on shares of Krystal Biotech in a research note on Tuesday, May 5th. HC Wainwright upped their price objective on shares of Krystal Biotech from $310.00 to $361.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. Wall Street Zen cut shares of Krystal Biotech from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $365.40.

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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