Fred Alger Management LLC Takes Position in Krystal Biotech, Inc. $KRYS

Key Points

• Fred Alger Management LLC acquired 3,728 shares of Krystal Biotech, Inc. (NASDAQ:KRYS) valued at approximately $672,000 in the first quarter.
• Shares of Krystal Biotech have seen a 2.7% decline, currently trading around $137.46, with a market cap of $3.98 billion.
• Analysts generally rate Krystal Biotech as a "Moderate Buy", with an average target price of $209.00, amidst several recent upgrades and downgrades from financial institutions.

Fred Alger Management LLC bought a new position in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,728 shares of the company's stock, valued at approximately $672,000.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Krystal Biotech in the first quarter worth about $42,223,000. Braidwell LP increased its position in Krystal Biotech by 99.9% in the first quarter. Braidwell LP now owns 400,744 shares of the company's stock worth $72,254,000 after purchasing an additional 200,244 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Krystal Biotech during the 1st quarter valued at about $33,455,000. Soleus Capital Management L.P. raised its position in Krystal Biotech by 65.2% during the fourth quarter. Soleus Capital Management L.P. now owns 358,379 shares of the company's stock valued at $56,144,000 after purchasing an additional 141,400 shares during the period. Finally, 1832 Asset Management L.P. purchased a new stake in Krystal Biotech during the 1st quarter valued at $24,521,000. Institutional investors own 86.29% of the company's stock.

Krystal Biotech Price Performance

NASDAQ KRYS traded down $1.33 during trading hours on Tuesday, hitting $154.38. 406,171 shares of the company's stock traded hands, compared to its average volume of 283,086. Krystal Biotech, Inc. has a 52-week low of $122.80 and a 52-week high of $207.84. The company has a market capitalization of $4.47 billion, a PE ratio of 31.38 and a beta of 0.66. The firm's 50-day moving average is $147.35 and its 200-day moving average is $152.28.

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

Insider Buying and Selling

In related news, insider Suma Krishnan sold 13,435 shares of the business'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 completion of the transaction, the insider directly owned 1,443,276 shares of the company's stock, valued at $216,924,382.80. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 49,800 shares of company stock valued at $7,487,943. Company insiders own 13.70% of the company's stock.

Analyst Upgrades and Downgrades

KRYS has been the subject of a number of recent analyst reports. HC Wainwright restated a "buy" rating and set a $240.00 price objective on shares of Krystal Biotech in a report on Monday. Citigroup reissued 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. Bank of America lowered their price target on shares of Krystal Biotech from $193.00 to $192.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Finally, Chardan Capital decreased their price target 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. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $209.00.

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).