Krystal Biotech, Inc. $KRYS Stock Position Lessened by Redmile Group LLC

Redmile Group LLC cut its stake in Krystal Biotech, Inc. (NASDAQ:KRYS) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 673,505 shares of the company’s stock after selling 4,200 shares during the quarter. Krystal Biotech accounts for about 11.5% of Redmile Group LLC’s investment portfolio, making the stock its 2nd largest holding. Redmile Group LLC’s holdings in Krystal Biotech were worth $173,980,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Sound Income Strategies LLC lifted its position in Krystal Biotech by 1,270.0% during the fourth quarter. Sound Income Strategies LLC now owns 137 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares during the period. Greenline Wealth Management LLC purchased a new stake in Krystal Biotech in the fourth quarter worth approximately $34,000. Danske Bank A S bought a new stake in Krystal Biotech in the 3rd quarter worth approximately $35,000. UMB Bank n.a. grew its position 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 during the period. Finally, Global Retirement Partners LLC raised its stake in Krystal Biotech by 788.9% during the 4th quarter. Global Retirement Partners LLC now owns 160 shares of the company’s stock valued at $39,000 after buying an additional 142 shares during the last quarter. 86.29% of the stock is currently owned by institutional investors.

Krystal Biotech Trading Up 3.5%

Shares of NASDAQ KRYS opened at $364.23 on Wednesday. Krystal Biotech, Inc. has a 12-month low of $130.50 and a 12-month high of $382.54. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 48.69 and a beta of 0.50. The firm has a 50 day moving average of $336.39 and a 200 day moving average of $294.41.

Krystal Biotech (NASDAQ:KRYS) last released its quarterly earnings results on Monday, May 4th. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.38. The business had revenue of $116.36 million for the quarter, compared to the consensus estimate of $112.11 million. Krystal Biotech had a net margin of 53.92% and a return on equity of 19.25%. Sell-side analysts predict that Krystal Biotech, Inc. will post 7.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KRYS. Wall Street Zen cut Krystal Biotech from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Bank of America lifted their price objective on Krystal Biotech from $364.00 to $396.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings cut Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Citigroup upped their price objective on Krystal Biotech from $371.00 to $378.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, HC Wainwright increased their target price on Krystal Biotech from $310.00 to $361.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $360.67.

Insiders Place Their Bets

In other news, EVP John Charles Thomas sold 1,000 shares of the company’s 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 sale, the executive vice president directly owned 1,000 shares in the company, valued at $347,270. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $7,702,750.00. Following the completion of the sale, the insider 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 26,642 shares of company stock valued at $8,243,923. Insiders own 13.10% of the company’s stock.

Krystal Biotech 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.