Frazier Life Sciences Management L.P. Sells 200,000 Shares of Krystal Biotech, Inc. $KRYS

Key Points

• Frazier Life Sciences cut its Krystal Biotech stake by 29.1% in the fourth quarter, selling 200,000 shares and leaving it with 488,460 shares worth about $120.4 million.
• Several insiders also sold shares, including EVP John Charles Thomas and insider Suma Krishnan, both through pre-arranged Rule 10b5-1 trading plans.
• Despite the selling, analysts remain bullish: 10 rate KRYS a Buy, 2 a Hold, and the stock has a consensus target price of $324.11 after strong recent earnings results.

Frazier Life Sciences Management L.P. lowered its holdings in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 29.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 488,460 shares of the company's stock after selling 200,000 shares during the quarter. Krystal Biotech comprises about 3.2% of Frazier Life Sciences Management L.P.'s investment portfolio, making the stock its 9th largest position. Frazier Life Sciences Management L.P. owned 1.68% of Krystal Biotech worth $120,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Public Sector Pension Investment Board boosted its stake in Krystal Biotech by 15.9% in the third quarter. Public Sector Pension Investment Board now owns 100,431 shares of the company's stock worth $17,729,000 after purchasing an additional 13,743 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Krystal Biotech by 469.9% during the fourth quarter. SG Americas Securities LLC now owns 18,909 shares of the company's stock valued at $4,662,000 after acquiring an additional 15,591 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Krystal Biotech by 58.4% during the fourth quarter. Handelsbanken Fonder AB now owns 105,800 shares of the company's stock valued at $26,084,000 after acquiring an additional 39,000 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Krystal Biotech by 63.9% during the third quarter. William Blair Investment Management LLC now owns 149,302 shares of the company's stock valued at $26,356,000 after acquiring an additional 58,203 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of Krystal Biotech during the third quarter valued at $1,450,000. Institutional investors and hedge funds own 86.29% of the company's stock.

Insider Transactions at Krystal Biotech

In related news, EVP John Charles Thomas sold 642 shares of the company's 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 filing with the Securities & Exchange Commission, 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 company's 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 owned 1,378,155 shares of the company's stock, valued at $424,623,337.05. This represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 13.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KRYS. Wall Street Zen raised Krystal Biotech from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. HC Wainwright reaffirmed a "buy" rating and set a $310.00 price target on shares of Krystal Biotech in a research note on Monday, June 1st. Weiss Ratings raised Krystal Biotech from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 9th. Evercore reaffirmed an "outperform" rating and set a $300.00 price target on shares of Krystal Biotech in a research note on Tuesday, May 5th. Finally, Chardan Capital upped their price target on Krystal Biotech from $220.00 to $323.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Krystal Biotech has an average rating of "Moderate Buy" and an average target price of $324.11.

Krystal Biotech Trading Down 1.1%

NASDAQ KRYS opened at $317.97 on Friday. The stock has a 50-day simple moving average of $288.44 and a 200 day simple moving average of $267.89. The company has a market capitalization of $9.37 billion, a PE ratio of 42.51 and a beta of 0.53. Krystal Biotech, Inc. has a 12 month low of $127.99 and a 12 month high of $331.49.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $1.83 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.38. The business had revenue of $116.36 million during the quarter, compared to the consensus estimate of $112.11 million. Krystal Biotech had a return on equity of 19.25% and a net margin of 53.92%. As a group, sell-side analysts predict that Krystal Biotech, Inc. will post 7.83 earnings per share for the current fiscal year.

About Krystal Biotech

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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