Krystal Biotech (NASDAQ:KRYS) Hits New 52-Week High - Here's Why

Key Points

• Krystal Biotech shares hit a new 52-week high, trading as high as $314.00 and last changing hands near $310.63, up about 2.1% on the day.
• Recent analyst sentiment remains constructive: ten analysts rate the stock a Buy and two a Hold, with an average price target of $324.11. Several firms also raised targets or upgraded the stock.
• The company reported strong quarterly results on May 4, posting $1.83 EPS versus expectations of $1.45 and revenue of $116.36 million, both above estimates.

Shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $314.00 and last traded at $310.6340, with a volume of 23480 shares traded. The stock had previously closed at $305.71.

Analyst Upgrades and Downgrades

KRYS has been the topic of several research analyst reports. Weiss Ratings upgraded Krystal Biotech from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 9th. Bank of America boosted their price objective on Krystal Biotech from $288.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Zacks Research cut Krystal Biotech from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 5th. Jefferies Financial Group increased their target price on Krystal Biotech from $310.00 to $371.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Finally, HC Wainwright reissued a "buy" rating and set a $310.00 target price on shares of Krystal Biotech in a report on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $324.11.

Krystal Biotech Stock Up 2.1%

The firm has a 50-day moving average of $263.06 and a two-hundred day moving average of $248.61. The company has a market capitalization of $9.20 billion, a PE ratio of 41.76 and a beta of 0.50.

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

Insider Transactions at Krystal Biotech

In other news, CAO Kathryn Romano sold 750 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $267.60, for a total transaction of $200,700.00. Following the completion of the transaction, the chief accounting officer directly owned 22,366 shares in the company, valued at $5,985,141.60. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Janney sold 37,895 shares of Krystal Biotech stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $266.88, for a total value of $10,113,417.60. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 116,664 shares of company stock valued at $31,136,828. Corporate insiders own 13.10% of the company's stock.

Institutional Trading of Krystal Biotech

A number of institutional investors have recently bought and sold shares of KRYS. Royal Bank of Canada lifted its holdings in Krystal Biotech by 145.2% during the 1st quarter. Royal Bank of Canada now owns 1,628 shares of the company's stock worth $294,000 after buying an additional 964 shares during the last quarter. AQR Capital Management LLC grew its position in Krystal Biotech by 29.9% in the 1st quarter. AQR Capital Management LLC now owns 12,131 shares of the company's stock valued at $2,187,000 after buying an additional 2,792 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Krystal Biotech by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,893 shares of the company's stock worth $2,870,000 after buying an additional 688 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Krystal Biotech during the 1st quarter worth approximately $218,000. Finally, Cetera Investment Advisers raised its stake in shares of Krystal Biotech by 107.9% during the 2nd quarter. Cetera Investment Advisers now owns 4,344 shares of the company's stock worth $597,000 after buying an additional 2,255 shares in the last quarter. 86.29% of the stock is owned by hedge funds and other institutional investors.

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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