Raymond James Financial Inc. Lowers Holdings in Krystal Biotech, Inc. $KRYS

Key Points

• Raymond James Financial Inc. reduced its stake in Krystal Biotech, Inc. by 35.4%, decreasing their holdings to 65,961 shares valued at approximately $11.89 million.
• Krystal Biotech's stock is currently down 2.0%, with shares trading at $147.70, reflecting a twelve month low of $122.80 and a high of $207.84.
• Analysts maintain a mostly positive outlook, with seven rating the stock as a Buy and a consensus target price of $210.38.

Raymond James Financial Inc. cut its holdings in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 35.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,961 shares of the company's stock after selling 36,100 shares during the quarter. Raymond James Financial Inc. owned 0.23% of Krystal Biotech worth $11,893,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in KRYS. Nuveen LLC purchased a new position in shares of Krystal Biotech during the first quarter worth approximately $42,223,000. Soleus Capital Management L.P. grew its holdings in shares of Krystal Biotech by 65.2% in the fourth quarter. Soleus Capital Management L.P. now owns 358,379 shares of the company's stock worth $56,144,000 after purchasing an additional 141,400 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Krystal Biotech by 50,249.4% in the first quarter. GAMMA Investing LLC now owns 121,342 shares of the company's stock worth $21,878,000 after purchasing an additional 121,101 shares during the last quarter. Integral Health Asset Management LLC bought a new position in shares of Krystal Biotech in the fourth quarter worth approximately $8,616,000. Finally, Woodline Partners LP grew its holdings in shares of Krystal Biotech by 23.0% in the fourth quarter. Woodline Partners LP now owns 221,102 shares of the company's stock worth $34,638,000 after purchasing an additional 41,287 shares during the last quarter. 86.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Krystal Biotech

In other news, insider Suma Krishnan sold 1,389 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $150.00, for a total transaction of $208,350.00. Following the sale, the insider owned 1,508,056 shares in the company, valued at approximately $226,208,400. The trade was a 0.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 49,800 shares of company stock worth $7,487,943. Insiders own 13.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KRYS. Chardan Capital cut their target price on shares of Krystal Biotech from $219.00 to $216.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. Guggenheim cut their target price on shares of Krystal Biotech from $195.00 to $189.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Bank of America cut their target price on shares of Krystal Biotech from $193.00 to $192.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Citigroup restated a "neutral" rating and issued a $166.00 target price (down previously from $176.00) on shares of Krystal Biotech in a report on Tuesday, August 5th. Finally, HC Wainwright restated a "buy" rating and issued a $240.00 target price on shares of Krystal Biotech in a report on Friday, August 22nd. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $210.38.

Krystal Biotech Stock Down 1.0%

Shares of KRYS stock traded down $1.51 during mid-day trading on Thursday, reaching $148.70. 82,833 shares of the company's stock traded hands, compared to its average volume of 326,615. Krystal Biotech, Inc. has a 12 month low of $122.80 and a 12 month high of $207.84. The company has a market cap of $4.30 billion, a P/E ratio of 30.21 and a beta of 0.66. The company's 50-day moving average price is $146.28 and its 200-day moving average price is $154.21.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.21. Krystal Biotech had a net margin of 40.85% and a return on equity of 15.21%. The firm had revenue of $96.04 million for the quarter, compared to analysts' expectations of $95.42 million. Equities analysts predict 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).