Krystal Biotech, Inc. $KRYS Shares Purchased by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Krystal Biotech stake by 15.6% in the fourth quarter, buying 22,231 additional shares and bringing its total holding to 165,074 shares worth about $40.7 million.
• Krystal Biotech reported better-than-expected quarterly results, posting EPS of $1.83 versus estimates of $1.45 and revenue of $116.36 million versus $112.11 million expected.
• Despite strong institutional interest and earnings strength, company insiders sold shares during the quarter, while analysts remain broadly optimistic with a consensus “Moderate Buy” rating and a price target of $324.11.

Principal Financial Group Inc. increased its stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 15.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,074 shares of the company's stock after purchasing an additional 22,231 shares during the period. Principal Financial Group Inc. owned 0.57% of Krystal Biotech worth $40,697,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Hidden Cove Wealth Management LLC acquired a new position in shares of Krystal Biotech during the 4th quarter worth approximately $212,000. Truist Financial Corp acquired a new position in shares of Krystal Biotech during the 4th quarter worth approximately $266,000. Horizon Investments LLC acquired a new position in shares of Krystal Biotech during the 4th quarter worth approximately $102,000. New York State Teachers Retirement System grew its stake in Krystal Biotech by 0.6% in the 4th quarter. New York State Teachers Retirement System now owns 15,650 shares of the company's stock worth $3,858,000 after acquiring an additional 100 shares during the period. Finally, UBS Group AG grew its stake in Krystal Biotech by 970.8% in the 4th quarter. UBS Group AG now owns 159,595 shares of the company's stock worth $39,347,000 after acquiring an additional 177,922 shares during the period. 86.29% of the stock is currently owned by institutional investors and hedge funds.

Krystal Biotech Price Performance

Krystal Biotech stock opened at $305.71 on Friday. Krystal Biotech, Inc. has a 12-month low of $122.80 and a 12-month high of $306.10. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 40.87 and a beta of 0.50. The firm's fifty day moving average price is $263.06 and its 200 day moving average price is $248.61.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last released its quarterly 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. Analysts forecast that Krystal Biotech, Inc. will post 7.98 earnings per share for the current fiscal year.

Insider Activity at Krystal Biotech

In other news, Director Dino A. Rossi sold 18,950 shares of the business's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $261.41, for a total value of $4,953,719.50. Following the completion of the sale, the director owned 78,691 shares of the company's stock, valued at approximately $20,570,614.31. The trade was a 19.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Janney sold 11,803 shares of the business's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $275.59, for a total transaction of $3,252,788.77. Following the completion of the sale, the director directly owned 73,293 shares of the company's stock, valued at $20,198,817.87. The trade was a 13.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 129,164 shares of company stock worth $34,538,578 over the last quarter. Company insiders own 13.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on KRYS shares. Bank of America lifted their target price on shares of Krystal Biotech from $288.00 to $318.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Citigroup lifted their target price on shares of Krystal Biotech from $371.00 to $378.00 and gave the stock a "buy" rating in a research note on Tuesday. Weiss Ratings raised shares of Krystal Biotech from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 9th. Wall Street Zen raised shares of Krystal Biotech from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Wolfe Research started coverage on shares of Krystal Biotech in a research note on Friday, March 27th. They issued a "peer perform" rating for the company. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $324.11.

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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