Braidwell LP Raises Stake in Krystal Biotech, Inc. $KRYS

Key Points

• Braidwell LP significantly increased its stake in Krystal Biotech by 99.9%, acquiring an additional 200,244 shares, bringing its total to 400,744 shares, valued at approximately $72.25 million.
• Analysts generally maintain a positive outlook for Krystal Biotech, with a consensus rating of "Moderate Buy" and a target price averaging $210.38, despite some decreases in individual price targets.
• Krystal Biotech reported a Q2 EPS of $1.29, exceeding analyst expectations of $1.08, with a revenue of $96.04 million, indicating strong financial performance.

Braidwell LP increased its stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 99.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,744 shares of the company's stock after buying an additional 200,244 shares during the quarter. Krystal Biotech accounts for 2.5% of Braidwell LP's investment portfolio, making the stock its 14th largest holding. Braidwell LP owned 1.39% of Krystal Biotech worth $72,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of KRYS. Hsbc Holdings PLC grew its holdings in Krystal Biotech by 195.2% during the fourth quarter. Hsbc Holdings PLC now owns 4,519 shares of the company's stock worth $718,000 after buying an additional 2,988 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Krystal Biotech by 12.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 35,206 shares of the company's stock worth $5,515,000 after buying an additional 3,981 shares in the last quarter. Northern Trust Corp grew its holdings in Krystal Biotech by 9.9% during the fourth quarter. Northern Trust Corp now owns 262,263 shares of the company's stock worth $41,086,000 after buying an additional 23,572 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Krystal Biotech by 17.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 7,604 shares of the company's stock worth $1,191,000 after buying an additional 1,153 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Krystal Biotech by 26.4% during the fourth quarter. Ameriprise Financial Inc. now owns 113,476 shares of the company's stock worth $17,779,000 after buying an additional 23,727 shares in the last quarter. Institutional investors own 86.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KRYS shares. Bank of America decreased their price target on Krystal Biotech from $193.00 to $192.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. Citigroup restated a "neutral" rating and issued a $166.00 price objective (down previously from $176.00) on shares of Krystal Biotech in a research note on Tuesday, August 5th. HC Wainwright restated a "buy" rating and issued a $240.00 price objective on shares of Krystal Biotech in a research note on Friday, August 22nd. Finally, Chardan Capital reduced their price objective on Krystal Biotech from $219.00 to $216.00 and set a "buy" rating for the company in a research note on Friday, August 22nd. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $210.38.

Krystal Biotech Price Performance

Shares of NASDAQ KRYS traded up $0.52 during trading on Friday, reaching $150.27. 324,265 shares of the stock traded hands, compared to its average volume of 254,453. Krystal Biotech, Inc. has a 52-week low of $122.80 and a 52-week high of $207.84. The company has a 50-day moving average of $146.65 and a 200-day moving average of $154.14. The stock has a market capitalization of $4.35 billion, a P/E ratio of 30.54 and a beta of 0.66.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.21. Krystal Biotech had a return on equity of 15.21% and a net margin of 40.85%.The firm had revenue of $96.04 million for the quarter, compared to analysts' expectations of $95.42 million. Analysts expect that Krystal Biotech, Inc. will post 6.14 earnings per share for the current fiscal year.

Insider Activity at Krystal Biotech

In other news, insider Suma Krishnan sold 13,435 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $150.30, for a total transaction of $2,019,280.50. Following the transaction, the insider owned 1,443,276 shares of the company's stock, valued at $216,924,382.80. This represents a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 49,800 shares of company stock worth $7,487,943. 13.70% of the stock is owned by corporate insiders.

About Krystal Biotech

Krystal Biotech, Inc, a commercial-stage biotechnology company, discovers, develops, and commercializes genetic medicines for patients with rare diseases in the United States. It commercializes VYJUVEK (beremagene geperpavec-svdt, or B-VEC) for the treatment of dystrophic epidermolysis bullosa (DEB).