Corient Private Wealth LP Grows Stock Position in Krystal Biotech, Inc. $KRYS

Key Points

• Corient Private Wealth LP increased its Krystal Biotech stake by 767.4% in the second quarter, adding 27,035 shares to hold 30,558 shares valued at approximately $11.4 million. Institutional investors collectively own 86.29% of KRYS.
• Wall Street remains broadly optimistic, with an average rating of “Moderate Buy” and an average price target of $365.40; several analysts recently raised their targets to as high as $474.
• Krystal Biotech exceeded quarterly EPS expectations, reporting $1.79 versus the $1.70 consensus estimate, though revenue of $119.22 million fell slightly short of forecasts. Meanwhile, insiders sold $17.6 million worth of shares during the quarter.

Corient Private Wealth LP boosted its position in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 767.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,558 shares of the company's stock after purchasing an additional 27,035 shares during the period. Corient Private Wealth LP owned about 0.10% of Krystal Biotech worth $11,357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Silvant Capital Management LLC acquired a new position in shares of Krystal Biotech during the 2nd quarter worth $30,000. Western Wealth Management LLC acquired a new position in Krystal Biotech during the first quarter worth about $34,000. USA Financial Formulas acquired a new position in Krystal Biotech during the first quarter worth about $44,000. IFP Advisors Inc increased its holdings in Krystal Biotech by 248.7% in the fourth quarter. IFP Advisors Inc now owns 265 shares of the company's stock valued at $65,000 after buying an additional 189 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Krystal Biotech by 189.2% during the 2nd quarter. Versant Capital Management Inc now owns 214 shares of the company's stock valued at $80,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 86.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KRYS. Bank of America upped their price target on Krystal Biotech from $364.00 to $396.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Jefferies Financial Group reaffirmed a "buy" rating and set a $474.00 price objective on shares of Krystal Biotech in a report on Monday, July 13th. Citigroup boosted their target price on Krystal Biotech from $378.00 to $386.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. TD Cowen upped their target price on Krystal Biotech from $306.00 to $403.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Finally, Wall Street Zen cut Krystal Biotech from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $365.40.

Krystal Biotech Price Performance

Shares of KRYS opened at $336.67 on Thursday. Krystal Biotech, Inc. has a 1-year low of $153.20 and a 1-year high of $382.54. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 42.19 and a beta of 0.54. The firm has a 50 day simple moving average of $345.28 and a 200-day simple moving average of $311.66.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last released its quarterly earnings results 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%. On average, equities analysts expect that Krystal Biotech, Inc. will post 7.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Dino A. 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 transaction, the director owned 50,000 shares of the company's stock, valued at approximately $16,456,000. This trade represents a 33.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Suma Krishnan sold 25,000 shares of the firm's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $359.32, for a total value of $8,983,000.00. Following the completion of the transaction, the insider directly owned 1,302,145 shares in the company, valued at $467,886,741.40. This trade represents a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 51,000 shares of company stock valued at $17,558,270. Insiders own 13.10% of the company's stock.

About Krystal Biotech

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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