Congress Asset Management Co. Increases Stock Holdings in Krystal Biotech, Inc. $KRYS

Key Points

• Congress Asset Management increased its Krystal Biotech stake by 34.8% in the third quarter, bringing its holdings to 54,083 shares valued at approximately $18.0 million. Institutional investors and hedge funds collectively own 86.29% of KRYS.
• Krystal Biotech insiders recently sold shares, including $9.0 million worth by insider Suma Krishnan and $8.2 million by director Dino Rossi. Insiders still retain a 13.10% ownership stake.
• Analyst sentiment remains positive, with the stock holding a consensus “Buy” rating and an average price target of $377.20, compared with a recent price of $326.81. The company also exceeded quarterly EPS expectations, reporting $1.79 versus the $1.70 consensus.

Congress Asset Management Co. grew its holdings in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 34.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,083 shares of the company's stock after purchasing an additional 13,949 shares during the period. Congress Asset Management Co. owned approximately 0.18% of Krystal Biotech worth $17,986,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Silvant Capital Management LLC purchased a new position in shares of Krystal Biotech during the 2nd quarter valued at about $30,000. Western Wealth Management LLC purchased a new position in Krystal Biotech in the 1st quarter valued at $34,000. USA Financial Formulas purchased a new position in Krystal Biotech in the 1st quarter worth approximately $44,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Krystal Biotech in the second quarter valued at about $46,000. Finally, Versant Capital Management Inc raised its position in Krystal Biotech by 189.2% in the second quarter. Versant Capital Management Inc now owns 214 shares of the company's stock valued at $80,000 after purchasing an additional 140 shares during the period. 86.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Krystal Biotech news, insider Suma Krishnan sold 25,000 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $359.32, for a total value of $8,983,000.00. Following the transaction, the insider directly owned 1,302,145 shares of the company's stock, valued at $467,886,741.40. This trade represents a 1.88% decrease in their ownership of the stock. The transaction 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 Rossi sold 25,000 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $329.12, for a total transaction of $8,228,000.00. Following the transaction, the director directly owned 50,000 shares in the company, valued at approximately $16,456,000. The trade was a 33.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 13.10% of the company's stock.

Krystal Biotech Price Performance

Shares of NASDAQ KRYS opened at $326.81 on Wednesday. The firm's 50-day moving average is $341.80 and its two-hundred day moving average is $319.40. Krystal Biotech, Inc. has a 12-month low of $179.19 and a 12-month high of $382.54. The company has a market capitalization of $9.67 billion, a PE ratio of 40.95 and a beta of 0.50.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.09. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%.The company had revenue of $119.22 million during the quarter, compared to the consensus estimate of $120.93 million. On average, analysts forecast that Krystal Biotech, Inc. will post 7.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KRYS. Weiss Ratings upgraded Krystal Biotech from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, September 24th. The Goldman Sachs Group initiated coverage on Krystal Biotech in a report on Thursday, September 24th. They issued a "buy" rating and a $441.00 price target for the company. TD Cowen increased 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. Royal Bank Of Canada began coverage on shares of Krystal Biotech in a report on Friday, August 14th. They set an "outperform" rating and a $400.00 price objective on the stock. Finally, Chardan Capital upgraded Krystal Biotech to a "strong-buy" rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Krystal Biotech currently has a consensus rating of "Buy" and an average target price of $377.20.

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 designed to deliver functional genes to targeted tissues, with the goal of treating diseases caused by genetic mutations.

Krystal Biotech's lead product, VYJUVEK (beremagene geperpavec-svdt), is a topical gene therapy approved in the United States for the treatment of wounds in patients with dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and recurrent blistering.

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