Pictet Asset Management Holding SA Sells 40,336 Shares of Krystal Biotech, Inc. $KRYS

Key Points

• Pictet Asset Management trimmed its stake in Krystal Biotech by 20.5% in Q4, selling 40,336 shares and leaving it with 156,568 shares (~0.54% of the company, ~$38.6M), while UBS dramatically increased its position to 159,595 shares; institutional investors now own 86.29% of the stock.
• Insiders have been net sellers: Director Daniel Janney sold 11,803 shares (~$3.25M) and Suma Krishnan sold 25,000 shares (~$6.58M), with insiders offloading 129,164 shares worth $34.54M in the past 90 days and currently owning 13.10%.
• Krystal beat Q4 estimates (EPS $1.70 vs. $1.62) and has a $7.65B market cap, and analysts are mostly positive with a consensus price target of $326.25 (Jefferies raised its target to $371).

Pictet Asset Management Holding SA lessened its stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,568 shares of the company's stock after selling 40,336 shares during the period. Pictet Asset Management Holding SA owned approximately 0.54% of Krystal Biotech worth $38,600,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. UBS Group AG boosted its holdings in Krystal Biotech by 970.8% in the fourth 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 in the last quarter. Torray Investment Partners LLC increased its holdings in shares of Krystal Biotech by 0.7% during the fourth quarter. Torray Investment Partners LLC now owns 11,985 shares of the company's stock valued at $2,955,000 after acquiring an additional 84 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Krystal Biotech by 1.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 5,086 shares of the company's stock valued at $1,254,000 after acquiring an additional 61 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Krystal Biotech in the 4th quarter worth about $268,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Krystal Biotech by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,409 shares of the company's stock worth $347,000 after purchasing an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company's stock.

Insider Buying and Selling at Krystal Biotech

In related news, Director Daniel Janney sold 11,803 shares of the firm's stock in a transaction on Friday, February 27th. The stock was sold at an average price of $275.59, for a total value of $3,252,788.77. Following the transaction, the director directly owned 73,293 shares of the company's stock, valued at approximately $20,198,817.87. This trade represents a 13.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $263.21, for a total value of $6,580,250.00. Following the transaction, the insider owned 1,403,155 shares in the company, valued at $369,324,427.55. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 129,164 shares of company stock worth $34,538,578. 13.10% of the stock is currently owned by insiders.

Krystal Biotech Stock Performance

Shares of NASDAQ:KRYS opened at $259.95 on Thursday. The stock's 50-day simple moving average is $261.73 and its two-hundred day simple moving average is $245.55. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 37.95 and a beta of 0.54. Krystal Biotech, Inc. has a 52-week low of $122.80 and a 52-week high of $298.30.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.62 by $0.08. Krystal Biotech had a net margin of 52.64% and a return on equity of 18.69%. The firm had revenue of $107.11 million during the quarter, compared to analyst estimates of $105.30 million. As a group, equities analysts forecast that Krystal Biotech, Inc. will post 7.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Jefferies Financial Group upped their price objective on Krystal Biotech from $310.00 to $371.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Chardan Capital upped their price target on Krystal Biotech from $220.00 to $323.00 and gave the company a "buy" rating in a report on Wednesday, February 18th. Weiss Ratings upgraded Krystal Biotech from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, April 9th. TD Cowen restated a "buy" rating on shares of Krystal Biotech in a research note on Friday, January 9th. Finally, Zacks Research downgraded shares of Krystal Biotech from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $326.25.

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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