Cynosure Group LLC Lowers Position in Krystal Biotech, Inc. $KRYS

Key Points

• Cynosure Group LLC cut its Krystal Biotech stake by 59.3% in the fourth quarter, leaving it with 2,406 shares worth about $593,000.
• Krystal Biotech’s stock was up 2.1% and opened at $324.75, near its 52-week high of $331.49; the company has a market value of about $9.57 billion.
• The company beat its latest earnings expectations, reporting $1.83 EPS on revenue of $116.36 million, while analysts currently maintain an overall Moderate Buy rating with an average price target of $324.11.

Cynosure Group LLC cut its holdings in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 59.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,406 shares of the company's stock after selling 3,512 shares during the quarter. Cynosure Group LLC's holdings in Krystal Biotech were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Greenline Wealth Management LLC purchased a new position in shares of Krystal Biotech during the 4th quarter worth $34,000. Sound Income Strategies LLC grew its holdings in shares of Krystal Biotech by 1,270.0% during the 4th quarter. Sound Income Strategies LLC now owns 137 shares of the company's stock worth $34,000 after purchasing an additional 127 shares during the period. UMB Bank n.a. grew its holdings in shares of Krystal Biotech by 34.6% during the 4th quarter. UMB Bank n.a. now owns 144 shares of the company's stock worth $36,000 after purchasing an additional 37 shares during the period. Bessemer Group Inc. grew its holdings in shares of Krystal Biotech by 106.9% during the 3rd quarter. Bessemer Group Inc. now owns 149 shares of the company's stock worth $26,000 after purchasing an additional 77 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of Krystal Biotech by 788.9% during the 4th quarter. Global Retirement Partners LLC now owns 160 shares of the company's stock worth $39,000 after purchasing an additional 142 shares during the period. 86.29% of the stock is currently owned by hedge funds and other institutional investors.

Krystal Biotech Trading Up 2.1%

KRYS opened at $324.75 on Tuesday. The stock's 50-day moving average price is $289.72 and its 200 day moving average price is $269.02. Krystal Biotech, Inc. has a 12-month low of $127.99 and a 12-month high of $331.49. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 43.42 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.38. The firm had revenue of $116.36 million for the quarter, compared to analyst estimates of $112.11 million. Krystal Biotech had a return on equity of 19.25% and a net margin of 53.92%. On average, research analysts forecast that Krystal Biotech, Inc. will post 7.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KRYS. Wolfe Research started coverage on Krystal Biotech in a report on Friday, March 27th. They set a "peer perform" rating for the company. Citigroup increased their target price on Krystal Biotech from $371.00 to $378.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Wall Street Zen raised Krystal Biotech from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Jefferies Financial Group increased their target price on Krystal Biotech from $310.00 to $371.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Finally, Evercore reissued an "outperform" rating and set a $300.00 target price on shares of Krystal Biotech in a research note on Tuesday, May 5th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $324.11.

Insider Transactions at Krystal Biotech

In other Krystal Biotech news, EVP John Charles Thomas sold 642 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $302.03, for a total value of $193,903.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the insider directly owned 1,378,155 shares in the company, valued at $424,623,337.05. This represents a 1.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.10% of the stock is owned by company insiders.

Krystal Biotech 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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