BlackRock Inc. Makes New $1.55 Billion Investment in Krystal Biotech, Inc. $KRYS

Key Points

• BlackRock acquired 4.18 million Krystal Biotech shares worth approximately $1.55 billion, giving it a 14.13% stake. Institutional investors collectively own 86.29% of the company.
• Krystal Biotech reported quarterly EPS of $1.79, beating estimates of $1.70, while revenue of $119.22 million fell slightly short of expectations. Shares opened at $337.02, down 1.8%.
• Analysts maintain a generally bullish view, with a consensus “Moderate Buy” rating and a $365.40 price target; however, insiders have sold more than $16.4 million in stock over the past quarter.

BlackRock Inc. acquired a new stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,181,432 shares of the company's stock, valued at approximately $1,554,113,000. BlackRock Inc. owned 14.13% of Krystal Biotech at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of Krystal Biotech by 34.6% during the fourth quarter. UMB Bank n.a. now owns 144 shares of the company's stock valued at $36,000 after buying an additional 37 shares during the period. Optimize Financial Inc increased its position in Krystal Biotech by 1.4% during the 4th quarter. Optimize Financial Inc now owns 2,855 shares of the company's stock valued at $704,000 after buying an additional 40 shares in the last quarter. Regal Investment Advisors LLC raised its stake in Krystal Biotech by 1.0% in the fourth quarter. Regal Investment Advisors LLC now owns 4,360 shares of the company's stock valued at $1,075,000 after buying an additional 44 shares during the last quarter. Torray Investment Partners LLC boosted its holdings in Krystal Biotech by 0.4% in the first quarter. Torray Investment Partners LLC now owns 12,032 shares of the company's stock worth $3,108,000 after acquiring an additional 47 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Krystal Biotech by 0.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 5,949 shares of the company's stock worth $1,537,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company's stock.

Krystal Biotech Stock Down 1.8%

Shares of NASDAQ:KRYS opened at $337.02 on Friday. The company has a market cap of $9.98 billion, a PE ratio of 42.23 and a beta of 0.53. Krystal Biotech, Inc. has a fifty-two week low of $136.73 and a fifty-two week high of $382.54. The company's 50-day moving average price is $346.45 and its 200 day moving average price is $301.08.

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 (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.09. The company had revenue of $119.22 million for the quarter, compared to analysts' expectations 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 anticipate that Krystal Biotech, Inc. will post 7.68 EPS for the current year.

Insider Buying and Selling

In related news, Director Dino A. Rossi sold 25,000 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $329.12, for a total value of $8,228,000.00. Following the completion of the transaction, the director directly owned 50,000 shares of the company's stock, valued at $16,456,000. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $308.11, for a total transaction of $7,702,750.00. Following the sale, the insider owned 1,378,155 shares in the company, valued at $424,623,337.05. This represents a 1.78% decrease in their position. 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 have sold 51,642 shares of company stock worth $16,471,923 in the last quarter. 13.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KRYS has been the topic of a number of recent analyst reports. TD Cowen upped their price target on shares of Krystal Biotech from $306.00 to $403.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. HC Wainwright increased their price target on shares of Krystal Biotech from $310.00 to $361.00 and gave the stock a "buy" rating in a 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. Royal Bank Of Canada began coverage on Krystal Biotech in a research report on Friday, August 14th. They issued an "outperform" rating and a $400.00 price target for the company. Finally, Chardan Capital upgraded shares of Krystal Biotech to a "strong-buy" rating in a report on Monday, August 3rd. One 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. Based on data from MarketBeat, Krystal Biotech currently has a consensus rating of "Moderate Buy" and a consensus price target of $365.40.

Krystal Biotech Company Profile

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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