Krystal Biotech, Inc. $KRYS Stake Decreased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management reduced its Krystal Biotech stake by 29.3% in the first quarter, selling 45,903 shares and leaving it with 110,665 shares worth about $28.6 million.
• Krystal Biotech’s latest quarterly results beat expectations, with EPS of $1.83 versus estimates of $1.45 and revenue of $116.36 million versus $112.11 million expected.
• Analyst sentiment remains constructive overall, with 10 Buy ratings and 2 Hold ratings; the stock currently carries a Moderate Buy consensus and an average price target of $340.56.

Pictet Asset Management Holding SA cut its holdings in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 29.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,665 shares of the company's stock after selling 45,903 shares during the period. Pictet Asset Management Holding SA owned approximately 0.38% of Krystal Biotech worth $28,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Greenline Wealth Management LLC bought a new stake in Krystal Biotech during the 4th quarter valued at $34,000. Sound Income Strategies LLC boosted its position in Krystal Biotech by 1,270.0% during the 4th quarter. Sound Income Strategies LLC now owns 137 shares of the company's stock worth $34,000 after acquiring an additional 127 shares during the period. UMB Bank n.a. grew its stake in shares of Krystal Biotech by 34.6% in the fourth quarter. UMB Bank n.a. now owns 144 shares of the company's stock worth $36,000 after purchasing an additional 37 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Krystal Biotech by 788.9% in the fourth quarter. Global Retirement Partners LLC now owns 160 shares of the company's stock worth $39,000 after purchasing an additional 142 shares in the last quarter. Finally, Danske Bank A S acquired a new position in shares of Krystal Biotech during the third quarter valued at $35,000. 86.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Krystal Biotech from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 16th. Evercore reissued an "outperform" rating and set a $300.00 target price on shares of Krystal Biotech in a research note on Tuesday, May 5th. Wall Street Zen downgraded shares of Krystal Biotech from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. TD Cowen upped their price target on shares of Krystal Biotech from $306.00 to $403.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Finally, Wolfe Research began coverage on shares of Krystal Biotech in a report 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 given a Hold rating to the stock. According to MarketBeat.com, Krystal Biotech currently has an average rating of "Moderate Buy" and an average price target of $340.56.

Krystal Biotech Stock Down 0.0%

Shares of NASDAQ KRYS opened at $371.58 on Thursday. Krystal Biotech, Inc. has a 12 month low of $130.50 and a 12 month high of $382.54. The company has a market cap of $10.95 billion, a price-to-earnings ratio of 49.68 and a beta of 0.50. The business has a fifty day simple moving average of $310.85 and a 200-day simple moving average of $279.81.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $1.83 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.38. The firm had revenue of $116.36 million for the quarter, compared to analysts' expectations 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 expect that Krystal Biotech, Inc. will post 7.66 EPS for the current fiscal year.

Insider Activity

In other news, insider Suma Krishnan sold 25,000 shares of Krystal Biotech 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 transaction, the insider directly owned 1,378,155 shares of the company's stock, valued at $424,623,337.05. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Charles Thomas sold 1,000 shares of the business'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 transaction of $347,270.00. Following the sale, the executive vice president owned 1,000 shares in the company, valued at $347,270. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 26,642 shares of company stock valued at $8,243,923. Corporate insiders own 13.10% of the company's stock.

Krystal Biotech Company 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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