State of New Jersey Common Pension Fund D Reduces Stock Position in Krystal Biotech, Inc. $KRYS

Key Points

• State of New Jersey Common Pension Fund D cut its Krystal Biotech stake by 49.2% in the fourth quarter, while institutional investors still hold a large majority of the stock at 86.29%.
• Analyst sentiment remains mostly positive: 10 Buy ratings and 2 Hold ratings give the stock a Moderate Buy consensus, with an average price target of $324.11.
• Krystal Biotech reported better-than-expected quarterly results, posting $1.83 EPS versus the $1.45 estimate and $116.36 million in revenue, even as several insiders recently sold shares.

State of New Jersey Common Pension Fund D decreased its holdings in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 49.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,409 shares of the company's stock after selling 7,190 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Krystal Biotech were worth $1,827,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. UBS Group AG boosted its stake in shares of Krystal Biotech by 970.8% during the 4th 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 during the last quarter. Torray Investment Partners LLC raised its holdings in Krystal Biotech by 0.7% in the 4th quarter. Torray Investment Partners LLC now owns 11,985 shares of the company's stock worth $2,955,000 after purchasing an additional 84 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in 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 purchasing an additional 61 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in Krystal Biotech during the fourth quarter valued at about $268,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Krystal Biotech by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,409 shares of the company's stock valued at $347,000 after purchasing an additional 290 shares during the period. 86.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KRYS has been the topic of several recent research reports. Zacks Research downgraded Krystal Biotech from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 5th. Weiss Ratings raised shares of Krystal Biotech from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, April 9th. Bank of America raised their target price on shares of Krystal Biotech from $288.00 to $318.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. HC Wainwright reaffirmed a "buy" rating and set a $310.00 price target on shares of Krystal Biotech in a report on Monday, May 4th. Finally, Chardan Capital upped their price target on shares of Krystal Biotech from $220.00 to $323.00 and gave the stock a "buy" rating in a research report on Wednesday, February 18th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $324.11.

Insider Transactions at Krystal Biotech

In other news, Director Dino A. Rossi sold 18,950 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $261.41, for a total transaction of $4,953,719.50. Following the completion of the transaction, the director directly owned 78,691 shares in the company, valued at approximately $20,570,614.31. This represents a 19.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suma Krishnan sold 25,000 shares of the firm's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $263.21, for a total transaction of $6,580,250.00. Following the completion of the transaction, the insider directly owned 1,403,155 shares of the company's stock, valued at approximately $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. Insiders sold 116,664 shares of company stock valued at $31,136,828 over the last 90 days. Insiders own 13.10% of the company's stock.

Krystal Biotech Stock Performance

KRYS opened at $305.71 on Monday. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 40.87 and a beta of 0.50. Krystal Biotech, Inc. has a fifty-two week low of $122.80 and a fifty-two week high of $306.10. The company has a fifty day moving average of $263.06 and a 200 day moving average of $248.61.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.45 by $0.38. The business had revenue of $116.36 million during the quarter, compared to the consensus estimate of $112.11 million. Krystal Biotech had a net margin of 53.92% and a return on equity of 19.25%. On average, equities research analysts forecast that Krystal Biotech, Inc. will post 7.98 earnings per share for the current year.

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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