Hsbc Holdings PLC Invests $3.65 Million in Krystal Biotech, Inc. $KRYS

Key Points

• Hsbc Holdings PLC purchased 9,598 Krystal Biotech shares worth approximately $3.65 million in the second quarter, while institutional investors collectively own 86.29% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $365.40; recent targets range as high as $474.
• Krystal Biotech exceeded quarterly EPS expectations, reporting $1.79 versus the $1.70 consensus, while revenue reached $119.22 million. Shares opened at $345.55, near their $382.54 one-year high.

Hsbc Holdings PLC purchased a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,598 shares of the company's stock, valued at approximately $3,653,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Krystal Biotech during the second quarter worth about $1,554,113,000. William Blair Investment Management LLC bought a new position in Krystal Biotech in the 2nd quarter valued at approximately $211,909,000. Soleus Capital Management L.P. boosted its position in Krystal Biotech by 108.9% during the 2nd quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company's stock worth $126,870,000 after buying an additional 481,200 shares during the period. Norges Bank acquired a new stake in Krystal Biotech during the 4th quarter worth approximately $70,159,000. Finally, Jupiter Topco LLC bought a new stake in Krystal Biotech during the 2nd quarter worth approximately $95,387,000. Institutional investors and hedge funds own 86.29% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction of $8,983,000.00. Following the completion of the sale, the insider owned 1,302,145 shares in the company, valued at approximately $467,886,741.40. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Thomas sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $347.27, for a total value of $347,270.00. Following the completion of the transaction, the executive vice president owned 1,000 shares in the company, valued at approximately $347,270. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 51,000 shares of company stock valued at $17,558,270. 13.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $474.00 price target on shares of Krystal Biotech in a research note on Monday, July 13th. Royal Bank Of Canada started coverage on shares of Krystal Biotech in a research note on Friday, August 14th. They issued an "outperform" rating and a $400.00 price objective on the stock. Chardan Capital raised Krystal Biotech to a "strong-buy" rating in a research report on Monday, August 3rd. Wall Street Zen downgraded Krystal Biotech from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Finally, Bank of America lifted their target price on Krystal Biotech from $364.00 to $396.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $365.40.

Krystal Biotech Price Performance

Shares of Krystal Biotech stock opened at $345.55 on Friday. Krystal Biotech, Inc. has a one year low of $137.02 and a one year high of $382.54. The stock's 50-day moving average is $347.95 and its 200 day moving average is $309.76. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of 43.30 and a beta of 0.54.

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

Krystal Biotech Company 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 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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