The Manufacturers Life Insurance Company Makes New Investment in Krystal Biotech, Inc. $KRYS

Key Points

• The Manufacturers Life Insurance Company acquired 25,867 Krystal Biotech shares worth approximately $9.6 million, giving it a 0.09% stake. Institutional investors and hedge funds collectively own 86.29% of the company.
• Krystal Biotech reported quarterly EPS of $1.79, beating estimates of $1.70, while revenue of $119.22 million fell slightly short of forecasts. Analysts maintain a “Moderate Buy” consensus with an average price target of $365.40.
• KRYS opened at $351.46 and has gained substantially from its 52-week low of $136.73, despite recent insider selling totaling $16.3 million. The company focuses on gene therapies for rare dermatological diseases.

The Manufacturers Life Insurance Company acquired a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 25,867 shares of the company's stock, valued at approximately $9,614,000. The Manufacturers Life Insurance Company owned about 0.09% of Krystal Biotech at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Silvant Capital Management LLC acquired a new position in shares of Krystal Biotech in the 2nd quarter valued at $30,000. Western Wealth Management LLC purchased a new stake in Krystal Biotech in the 1st quarter valued at $34,000. Greenline Wealth Management LLC acquired a new stake in Krystal Biotech during the 4th quarter worth $34,000. Danske Bank A S purchased a new position in Krystal Biotech during the 3rd quarter worth $35,000. Finally, UMB Bank n.a. grew its position in Krystal Biotech by 34.6% during the 4th quarter. UMB Bank n.a. now owns 144 shares of the company's stock worth $36,000 after purchasing an additional 37 shares during the last quarter. 86.29% of the stock is owned by institutional investors and hedge funds.

Krystal Biotech Stock Down 1.7%

NASDAQ KRYS opened at $351.46 on Friday. The stock has a market capitalization of $10.40 billion, a P/E ratio of 44.04 and a beta of 0.53. Krystal Biotech, Inc. has a 52-week low of $136.73 and a 52-week high of $382.54. The firm has a 50-day moving average price of $348.64 and a 200 day moving average price of $304.16.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.09. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%.The company had revenue of $119.22 million for the quarter, compared to analyst estimates of $120.93 million. On average, equities research analysts expect that Krystal Biotech, Inc. will post 7.48 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Suma Krishnan sold 25,000 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $308.11, for a total transaction of $7,702,750.00. Following the transaction, the insider owned 1,378,155 shares of the company's stock, valued at $424,623,337.05. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Charles Thomas sold 1,000 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $347.27, for a total value of $347,270.00. Following the completion of the transaction, the executive vice president owned 1,000 shares of the company's stock, valued at $347,270. The trade was a 50.00% 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. Insiders sold 51,000 shares of company stock valued at $16,278,020 in the last three months. 13.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KRYS shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $474.00 target price on shares of Krystal Biotech in a report on Monday, July 13th. Weiss Ratings lowered Krystal Biotech from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. Bank of America boosted their price target on Krystal Biotech from $364.00 to $396.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Citigroup upped their price objective on Krystal Biotech from $378.00 to $386.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Finally, TD Cowen increased their price objective on Krystal Biotech from $306.00 to $403.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Krystal Biotech presently has an average rating of "Moderate Buy" and an average target price of $365.40.

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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