Lord Abbett & CO. LLC Sells 64,403 Shares of Krystal Biotech, Inc. $KRYS

Key Points

• Lord Abbett & CO. LLC has reduced its stake in Krystal Biotech by 29.9%, now holding approximately 151,225 shares valued at <$27.3 million.
• Krystal Biotech reported earnings per share of $1.29 for the last quarter, exceeding the consensus estimate by $0.21, and had a revenue of <$96.04 million.
• Wall Street analysts maintain a consensus "Buy" rating for Krystal Biotech, with average target prices ranging from $189.00 to $240.00.

Lord Abbett & CO. LLC cut its position in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 29.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,225 shares of the company's stock after selling 64,403 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.52% of Krystal Biotech worth $27,266,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of Krystal Biotech by 159.1% in the first quarter. Fifth Third Bancorp now owns 171 shares of the company's stock valued at $31,000 after buying an additional 105 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Krystal Biotech in the 4th quarter worth approximately $95,000. GAMMA Investing LLC lifted its position in shares of Krystal Biotech by 179.3% in the 1st quarter. GAMMA Investing LLC now owns 673 shares of the company's stock worth $121,000 after acquiring an additional 432 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Krystal Biotech during the 1st quarter worth approximately $223,000. Finally, Avanza Fonder AB increased its position in shares of Krystal Biotech by 66.0% during the first quarter. Avanza Fonder AB now owns 1,260 shares of the company's stock valued at $228,000 after purchasing an additional 501 shares during the period. 86.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KRYS. Bank of America reduced their target price on Krystal Biotech from $193.00 to $192.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Guggenheim decreased their target price on shares of Krystal Biotech from $195.00 to $189.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Citigroup reissued a "neutral" rating and issued a $166.00 price target (down previously from $176.00) on shares of Krystal Biotech in a research report on Tuesday, August 5th. HC Wainwright restated a "buy" rating and set a $240.00 price target on shares of Krystal Biotech in a research note on Friday, July 25th. Finally, Chardan Capital reiterated a "buy" rating and issued a $219.00 price objective on shares of Krystal Biotech in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $210.75.

Insider Activity

In related news, insider Suma Krishnan sold 13,435 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $150.30, for a total value of $2,019,280.50. Following the completion of the sale, the insider owned 1,443,276 shares of the company's stock, valued at $216,924,382.80. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 49,800 shares of company stock worth $7,487,943 in the last quarter. 13.70% of the stock is currently owned by corporate insiders.

Krystal Biotech Stock Down 0.3%

KRYS traded down $0.4750 during trading on Wednesday, hitting $143.4850. The company's stock had a trading volume of 21,831 shares, compared to its average volume of 331,033. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 29.16 and a beta of 0.70. The firm's 50 day moving average price is $143.72 and its two-hundred day moving average price is $154.83. Krystal Biotech, Inc. has a 12 month low of $122.80 and a 12 month high of $207.84.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.21. The business had revenue of $96.04 million during the quarter, compared to analysts' expectations of $95.42 million. Krystal Biotech had a return on equity of 15.21% and a net margin of 40.85%. On average, sell-side analysts forecast that Krystal Biotech, Inc. will post 6.14 earnings per share for the current year.

About Krystal Biotech

Krystal Biotech, Inc, a commercial-stage biotechnology company, discovers, develops, and commercializes genetic medicines for patients with rare diseases in the United States. It commercializes VYJUVEK (beremagene geperpavec-svdt, or B-VEC) for the treatment of dystrophic epidermolysis bullosa (DEB).