William Blair Investment Management LLC Acquires New Stake in Krystal Biotech, Inc. $KRYS

Key Points

• William Blair Investment Management acquired 570,153 Krystal Biotech shares worth approximately $211.9 million, giving it a 1.93% stake. Institutional investors collectively own 86.29% of the company.
• Krystal Biotech reported quarterly earnings of $1.79 per share, exceeding the $1.70 consensus estimate, while revenue of $119.22 million fell slightly short of expectations. Analysts project $7.68 in full-year EPS.
• KRYS shares opened at $346.58, near the $347.03 50-day moving average, and analysts maintain a “Moderate Buy” consensus with an average price target of $365.40; however, insiders sold about $16.5 million of stock over the past three months.

William Blair Investment Management LLC acquired a new stake in shares of 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 570,153 shares of the company's stock, valued at approximately $211,909,000. William Blair Investment Management LLC owned about 1.93% of Krystal Biotech at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Silvant Capital Management LLC purchased a new stake in shares of Krystal Biotech in the second quarter worth $30,000. Western Wealth Management LLC purchased a new position in shares of Krystal Biotech in the 1st quarter worth about $34,000. Greenline Wealth Management LLC purchased a new position in shares of Krystal Biotech in the 4th quarter worth about $34,000. Danske Bank A S bought a new position in Krystal Biotech in the 3rd quarter worth about $35,000. Finally, UMB Bank n.a. boosted its stake in Krystal Biotech by 34.6% in 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 in the last quarter. 86.29% of the stock is owned by institutional investors.

Krystal Biotech Stock Performance

NASDAQ KRYS opened at $346.58 on Friday. Krystal Biotech, Inc. has a one year low of $136.73 and a one year high of $382.54. The stock has a 50-day moving average of $347.03 and a 200 day moving average of $301.40. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 43.43 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $1.79 earnings per share for the quarter, topping 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, equities analysts predict that Krystal Biotech, Inc. will post 7.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dino A. Rossi sold 25,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $329.12, for a total transaction of $8,228,000.00. Following the transaction, the director owned 50,000 shares in the company, valued at $16,456,000. This represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Charles Thomas sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $347.27, for a total transaction of $347,270.00. Following the completion of the sale, the executive vice president owned 1,000 shares in the company, valued at $347,270. This represents 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 51,642 shares of company stock valued at $16,471,923 over the last three months. Insiders own 13.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Jefferies Financial Group restated a "buy" rating and set a $474.00 price objective on shares of Krystal Biotech in a research note on Monday, July 13th. Wall Street Zen downgraded shares of Krystal Biotech from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Evercore reiterated an "outperform" rating and set a $300.00 price target on shares of Krystal Biotech in a report on Tuesday, May 5th. Bank of America increased their price target on shares of Krystal Biotech from $364.00 to $396.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Finally, Citigroup boosted their price objective on shares of Krystal Biotech from $378.00 to $386.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $365.40.

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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