Krystal Biotech, Inc. $KRYS is Redmile Group LLC's 2nd Largest Position

Key Points

• Redmile Group reduced its Krystal Biotech stake by 0.6% to 673,505 shares, but the position remains its second-largest holding, representing 11.5% of its portfolio and 2.28% of KRYS.
• Krystal Biotech reported quarterly EPS of $1.83, exceeding the $1.45 consensus estimate, while revenue of $116.36 million also topped expectations. The company posted a 53.92% net margin and analysts expect $7.31 in full-year EPS.
• KRYS opened at $364.23, near its 52-week high of $382.54. Analysts maintain a “Moderate Buy” consensus, with an average price target of $360.67, although insiders sold more than $8.2 million of shares over the past 90 days.

Redmile Group LLC lessened its holdings in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 673,505 shares of the company's stock after selling 4,200 shares during the period. Krystal Biotech accounts for approximately 11.5% of Redmile Group LLC's holdings, making the stock its 2nd biggest position. Redmile Group LLC owned 2.28% of Krystal Biotech worth $173,980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Royal Bank of Canada increased its stake in shares of Krystal Biotech by 145.2% in the 1st quarter. Royal Bank of Canada now owns 1,628 shares of the company's stock worth $294,000 after acquiring an additional 964 shares in the last quarter. AQR Capital Management LLC boosted its stake in Krystal Biotech by 29.9% during the first quarter. AQR Capital Management LLC now owns 12,131 shares of the company's stock worth $2,187,000 after acquiring an additional 2,792 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Krystal Biotech by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,893 shares of the company's stock worth $2,870,000 after acquiring an additional 688 shares in the last quarter. Empowered Funds LLC purchased a new stake in Krystal Biotech in the first quarter worth about $218,000. Finally, Cetera Investment Advisers grew its holdings in Krystal Biotech by 107.9% in the second quarter. Cetera Investment Advisers now owns 4,344 shares of the company's stock worth $597,000 after purchasing an additional 2,255 shares during the period. 86.29% of the stock is owned by hedge funds and other institutional investors.

Krystal Biotech Stock Performance

NASDAQ:KRYS opened at $364.23 on Wednesday. The firm has a market cap of $10.74 billion, a P/E ratio of 48.69 and a beta of 0.50. Krystal Biotech, Inc. has a fifty-two week low of $130.50 and a fifty-two week high of $382.54. The firm has a 50-day simple moving average of $336.39 and a two-hundred day simple moving average of $294.41.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued 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. Krystal Biotech had a net margin of 53.92% and a return on equity of 19.25%. The firm had revenue of $116.36 million for the quarter, compared to the consensus estimate of $112.11 million. On average, equities research analysts predict that Krystal Biotech, Inc. will post 7.31 EPS for the current year.

Insider Buying and Selling

In related news, insider Suma Krishnan sold 25,000 shares of the business's stock in a transaction that occurred on 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 transaction, the insider directly owned 1,378,155 shares in the company, valued at $424,623,337.05. The trade was a 1.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Charles 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 directly owned 1,000 shares in the company, valued at $347,270. This trade represents a 50.00% 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 90 days, insiders sold 26,642 shares of company stock valued at $8,243,923. 13.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KRYS. Jefferies Financial Group reiterated a "buy" rating and set a $474.00 target price on shares of Krystal Biotech in a report on Monday, July 13th. Weiss Ratings cut Krystal Biotech from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. Wall Street Zen downgraded Krystal Biotech from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Bank of America raised their price objective on Krystal Biotech from $364.00 to $396.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, Citigroup lifted their price objective on Krystal Biotech from $371.00 to $378.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $360.67.

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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