State of Alaska Department of Revenue Sells 5,927 Shares of Krystal Biotech, Inc. $KRYS

Key Points

• State of Alaska reduced its Krystal Biotech stake by 44.3% in the third quarter, selling 5,927 shares and retaining 7,458 shares valued at approximately $2.48 million. Institutional investors collectively own 86.29% of KRYS.
• Krystal Biotech reported quarterly EPS of $1.79, exceeding estimates of $1.70, while revenue of $119.22 million fell slightly short of forecasts. Analysts expect full-year EPS of about $7.40.
• Analysts remain broadly bullish, with the stock carrying a consensus “Buy” rating and an average price target of $377.20; targets range from $361 to $474.

State of Alaska Department of Revenue cut its holdings in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 44.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,458 shares of the company's stock after selling 5,927 shares during the quarter. State of Alaska Department of Revenue's holdings in Krystal Biotech were worth $2,479,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Terra Nova Asset Management LLC acquired a new stake in shares of Krystal Biotech in the third quarter worth $828,000. GK Wealth Management LLC bought a new position in Krystal Biotech during the third quarter worth $59,000. GAMMA Investing LLC raised its stake in Krystal Biotech by 10.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,100 shares of the company's stock valued at $366,000 after purchasing an additional 102 shares during the last quarter. Toth Financial Advisory Corp raised its stake in Krystal Biotech by 9.5% during the 3rd quarter. Toth Financial Advisory Corp now owns 4,941 shares of the company's stock valued at $1,643,000 after purchasing an additional 430 shares during the last quarter. Finally, Congress Asset Management Co. raised its stake in Krystal Biotech by 34.8% during the 3rd quarter. Congress Asset Management Co. now owns 54,083 shares of the company's stock valued at $17,986,000 after purchasing an additional 13,949 shares during the last quarter. 86.29% of the stock is owned by institutional investors.

Krystal Biotech Stock Performance

Shares of NASDAQ:KRYS opened at $316.58 on Monday. The firm has a market capitalization of $9.37 billion, a PE ratio of 39.67 and a beta of 0.50. Krystal Biotech, Inc. has a 1-year low of $183.03 and a 1-year high of $382.54. The business's 50 day moving average is $340.41 and its 200-day moving average is $323.69.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.09. The business had revenue of $119.22 million during the quarter, compared to analyst estimates of $120.93 million. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%. On average, sell-side analysts predict that Krystal Biotech, Inc. will post 7.40 EPS for the current year.

Insiders Place Their Bets

In other Krystal Biotech news, Director Dino A. Rossi sold 25,000 shares of the business'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 sale, the director owned 50,000 shares of the company's stock, valued at $16,456,000. The trade was a 33.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Suma Krishnan sold 25,000 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.32, for a total transaction of $8,983,000.00. Following the completion of the transaction, the insider owned 1,302,145 shares of the company's stock, valued at approximately $467,886,741.40. This represents a 1.88% decrease in their position. 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 owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KRYS. The Goldman Sachs Group assumed coverage on shares of Krystal Biotech in a research report on Thursday, September 24th. They issued a "buy" rating and a $441.00 price target on the stock. Bank of America boosted their price objective on shares of Krystal Biotech from $392.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, September 21st. HC Wainwright reaffirmed a "buy" rating and set a $361.00 price objective on shares of Krystal Biotech in a research report on Thursday. Royal Bank Of Canada started coverage on shares of Krystal Biotech in a research report on Friday, August 14th. They set an "outperform" rating and a $400.00 price objective for the company. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $474.00 target price on shares of Krystal Biotech in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $377.20.

Krystal Biotech Company Profile

Krystal Biotech, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. The company uses engineered herpes simplex virus type 1 (HSV-1) vectors designed to deliver functional genes to targeted tissues, with the goal of treating diseases caused by genetic mutations.

Krystal Biotech's lead product, VYJUVEK (beremagene geperpavec-svdt), is a topical gene therapy approved in the United States for the treatment of wounds in patients with dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and recurrent blistering.

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