Krystal Biotech, Inc. $KRYS Stock Holdings Decreased by Braidwell LP

Key Points

• Braidwell LP cut its Krystal Biotech stake by 29.3% during the second quarter, selling 53,450 shares and retaining 128,975 shares worth about $47.9 million. Institutional investors collectively own 86.29% of KRYS.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $365.40 average price target. Price targets from covering firms range from $386 to $474.
• KRYS shares opened at $369.23, near their 52-week high of $382.54, while the company reported quarterly EPS of $1.79—beating estimates—but revenue of $119.22 million came in below expectations.

Braidwell LP lowered its position in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 29.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,975 shares of the company's stock after selling 53,450 shares during the quarter. Krystal Biotech accounts for about 1.8% of Braidwell LP's holdings, making the stock its 16th largest position. Braidwell LP owned approximately 0.44% of Krystal Biotech worth $47,936,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KRYS. Silvant Capital Management LLC purchased a new position in Krystal Biotech during the 2nd quarter worth approximately $30,000. Western Wealth Management LLC purchased a new stake in shares of Krystal Biotech in the first quarter valued at $34,000. Greenline Wealth Management LLC acquired a new stake in shares of Krystal Biotech in the fourth quarter worth $34,000. Danske Bank A S purchased a new position in shares of Krystal Biotech during the third quarter valued at $35,000. Finally, UMB Bank n.a. raised its position in Krystal Biotech by 34.6% during the fourth quarter. UMB Bank n.a. now owns 144 shares of the company's stock valued at $36,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 86.29% of the company's stock.

Wall Street Analyst Weigh In

KRYS has been the subject of a number of research reports. Citigroup raised their price objective on Krystal Biotech from $378.00 to $386.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of Krystal Biotech from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Royal Bank Of Canada initiated coverage on shares of Krystal Biotech in a report on Friday, August 14th. They set an "outperform" rating and a $400.00 price target for the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $474.00 price objective on shares of Krystal Biotech in a research report on Monday, July 13th. Finally, Weiss Ratings lowered shares of Krystal Biotech from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $365.40.

Insiders Place Their Bets

In related news, Director Dino A. Rossi sold 25,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $329.12, for a total value of $8,228,000.00. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at approximately $16,456,000. This represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Charles Thomas sold 1,000 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $347.27, for a total transaction of $347,270.00. Following the transaction, the executive vice president directly owned 1,000 shares in the company, valued at $347,270. The trade was 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. 13.10% of the stock is currently owned by company insiders.

Krystal Biotech Stock Performance

Shares of NASDAQ KRYS opened at $369.23 on Thursday. The business has a 50 day simple moving average of $349.86 and a 200 day simple moving average of $306.35. Krystal Biotech, Inc. has a 52 week low of $136.73 and a 52 week high of $382.54. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 46.27 and a beta of 0.54.

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

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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