VIRGINIA RETIREMENT SYSTEMS ET Al Grows Stock Holdings in Krystal Biotech, Inc. $KRYS

Key Points

• Virginia Retirement Systems ET Al boosted its stake in Krystal Biotech by 350% in the fourth quarter, ending with 9,000 shares valued at about $2.2 million.
• Other institutional investors also increased holdings, and 86.29% of Krystal Biotech’s stock is now owned by hedge funds and other institutions.
• The company reported better-than-expected quarterly results, with EPS of $1.83 versus estimates of $1.45 and revenue of $116.36 million; analysts currently rate the stock a Moderate Buy with an average price target of $324.11.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 350.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,000 shares of the company's stock after buying an additional 7,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Krystal Biotech were worth $2,219,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Avoro Capital Advisors LLC lifted its position in shares of Krystal Biotech by 4.4% during the third quarter. Avoro Capital Advisors LLC now owns 2,777,777 shares of the company's stock valued at $490,361,000 after buying an additional 117,777 shares during the last quarter. State Street Corp lifted its position in shares of Krystal Biotech by 10.5% during the second quarter. State Street Corp now owns 1,355,346 shares of the company's stock valued at $186,306,000 after buying an additional 128,639 shares during the last quarter. Soleus Capital Management L.P. raised its position in shares of Krystal Biotech by 108.9% in the 2nd quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company's stock valued at $126,870,000 after purchasing an additional 481,200 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Krystal Biotech by 5.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 533,964 shares of the company's stock valued at $94,261,000 after purchasing an additional 28,075 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Krystal Biotech by 11.7% in the 3rd quarter. First Trust Advisors LP now owns 248,392 shares of the company's stock valued at $43,849,000 after purchasing an additional 26,022 shares during the last quarter. 86.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Krystal Biotech from $288.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Weiss Ratings raised shares of Krystal Biotech from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 9th. Citigroup increased their price objective on shares of Krystal Biotech from $371.00 to $378.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. HC Wainwright reissued a "buy" rating and set a $310.00 price target on shares of Krystal Biotech in a research report on Monday, May 4th. Finally, Jefferies Financial Group raised their price target on shares of Krystal Biotech from $310.00 to $371.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $324.11.

Insider Activity

In other news, Director Dino A. Rossi sold 18,950 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $261.41, for a total transaction of $4,953,719.50. Following the sale, the director owned 78,691 shares of the company's stock, valued at $20,570,614.31. This trade represents a 19.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Suma Krishnan sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $263.21, for a total transaction of $6,580,250.00. Following the sale, the insider directly owned 1,403,155 shares in the company, valued at $369,324,427.55. The trade was a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 116,664 shares of company stock worth $31,136,828 over the last 90 days. Company insiders own 13.10% of the company's stock.

Krystal Biotech Trading Down 3.2%

KRYS opened at $306.29 on Friday. Krystal Biotech, Inc. has a 12-month low of $122.80 and a 12-month high of $319.48. The firm has a market capitalization of $9.03 billion, a PE ratio of 40.95 and a beta of 0.50. The firm has a 50 day moving average of $268.10 and a two-hundred day moving average of $253.29.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.38. Krystal Biotech had a net margin of 53.92% and a return on equity of 19.25%. The company had revenue of $116.36 million during the quarter, compared to analyst estimates of $112.11 million. As a group, analysts predict that Krystal Biotech, Inc. will post 7.98 EPS for the current fiscal year.

Krystal Biotech Company Profile

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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