Norges Bank Acquires New Shares in Krystal Biotech, Inc. $KRYS

Key Points

• Norges Bank disclosed a new stake in Krystal Biotech, buying 284,573 shares worth about $70.2 million in the fourth quarter. The position represented about 0.98% of the company at the time of filing.
• Several institutional investors increased or initiated positions in KRYS, and overall institutional ownership stands at 86.29%. Meanwhile, insider selling included EVP John Charles Thomas and insider Suma Krishnan, who sold shares under pre-arranged Rule 10b5-1 plans.
• Wall Street sentiment remains constructive, with 10 Buy ratings and 2 Hold ratings, giving KRYS a consensus Moderate Buy and a target price of about $324.11. The company also recently beat earnings estimates, reporting $1.83 EPS versus the expected $1.45.

Norges Bank acquired a new stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 284,573 shares of the company's stock, valued at approximately $70,159,000. Norges Bank owned 0.98% of Krystal Biotech as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KRYS. Bessemer Group Inc. raised its stake in shares of Krystal Biotech by 106.9% during the 3rd quarter. Bessemer Group Inc. now owns 149 shares of the company's stock valued at $26,000 after purchasing an additional 77 shares during the period. Sound Income Strategies LLC raised its stake in shares of Krystal Biotech by 1,270.0% during the 4th quarter. Sound Income Strategies LLC now owns 137 shares of the company's stock valued at $34,000 after purchasing an additional 127 shares during the period. Danske Bank A S bought a new position in Krystal Biotech in the 3rd quarter worth about $35,000. Global Retirement Partners LLC increased its stake in Krystal Biotech by 788.9% in the 4th quarter. Global Retirement Partners LLC now owns 160 shares of the company's stock worth $39,000 after acquiring an additional 142 shares during the last quarter. Finally, MAI Capital Management increased its stake in Krystal Biotech by 79.7% in the 3rd quarter. MAI Capital Management now owns 284 shares of the company's stock worth $50,000 after acquiring an additional 126 shares during the last quarter. 86.29% of the stock is currently owned by institutional investors.

Insider Activity at Krystal Biotech

In other news, EVP John Charles Thomas sold 642 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $302.03, for a total value of $193,903.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suma Krishnan sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was 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 of the company's stock, valued at $424,623,337.05. This represents a 1.78% 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. Company insiders own 13.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on KRYS shares. Wall Street Zen upgraded Krystal Biotech from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Krystal Biotech from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 9th. Guggenheim upped their target price on Krystal Biotech from $224.00 to $284.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. Jefferies Financial Group upped their target price on Krystal Biotech from $310.00 to $371.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Finally, Chardan Capital upped their target price on Krystal Biotech from $220.00 to $323.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Krystal Biotech currently has a consensus rating of "Moderate Buy" and a consensus target price of $324.11.

Krystal Biotech Trading Down 2.2%

KRYS opened at $301.00 on Friday. The stock has a 50-day moving average price of $282.39 and a 200-day moving average price of $264.19. Krystal Biotech, Inc. has a 12-month low of $127.99 and a 12-month high of $319.48. The stock has a market capitalization of $8.87 billion, a P/E ratio of 40.24 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.38. Krystal Biotech had a return on equity of 19.25% and a net margin of 53.92%.The company had revenue of $116.36 million during the quarter, compared to analysts' expectations of $112.11 million. On average, equities research analysts predict that Krystal Biotech, Inc. will post 7.83 EPS for the current year.

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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