Krystal Biotech (NASDAQ:KRYS) Reaches New 52-Week High - Time to Buy?

Key Points

• Krystal Biotech shares hit a new 52-week high, trading as high as $382.54 before pulling back slightly. The move comes amid strong recent momentum in the stock.
• Wall Street sentiment remains broadly positive, with 10 analysts rating KRYS a Buy and just 2 Hold ratings. Recent price-target updates included Citigroup at $378 and TD Cowen at $403, though the consensus target is lower at $340.56.
• The company delivered a strong quarterly earnings beat, reporting $1.83 EPS versus $1.45 expected and revenue of $116.36 million versus $112.11 million. Institutional ownership is high at 86.29%, while insiders have also been selling shares in recent months.

Krystal Biotech, Inc. (NASDAQ:KRYS - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $382.54 and last traded at $371.67, with a volume of 309001 shares. The stock had previously closed at $378.15.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KRYS. Citigroup raised their price objective on Krystal Biotech from $371.00 to $378.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Weiss Ratings upgraded Krystal Biotech from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 16th. Evercore reissued an "outperform" rating and set a $300.00 price target on shares of Krystal Biotech in a research report on Tuesday, May 5th. Wall Street Zen downgraded Krystal Biotech from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, TD Cowen boosted their price target on Krystal Biotech from $306.00 to $403.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $340.56.

Krystal Biotech Trading Down 1.7%

The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 49.69 and a beta of 0.53. The firm's 50 day moving average price is $308.95 and its two-hundred day moving average price is $278.93.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $1.83 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $112.11 million. As a group, equities research analysts predict that Krystal Biotech, Inc. will post 7.66 EPS for the current year.

Insider Activity at Krystal Biotech

In other news, insider Suma Krishnan sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $308.11, for a total value of $7,702,750.00. Following the completion of the sale, the insider directly owned 1,378,155 shares of the company's stock, valued at $424,623,337.05. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a 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 firm's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $347.27, for a total value of $347,270.00. Following the completion of the sale, the executive vice president directly owned 1,000 shares of the company's stock, valued at approximately $347,270. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,642 shares of company stock worth $8,243,923 in the last 90 days. Corporate insiders own 13.10% of the company's stock.

Hedge Funds Weigh In On Krystal Biotech

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