Krystal Biotech (NASDAQ:KRYS) Shares Gap Down – What’s Next?

Krystal Biotech, Inc. (NASDAQ:KRYS) shares gapped down prior to trading on Monday. The stock had previously closed at $332.29, but opened at $314.21. Krystal Biotech shares last traded at $288.5770, with a volume of 126,905 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America boosted their target price on shares of Krystal Biotech from $392.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. The Goldman Sachs Group assumed coverage on Krystal Biotech in a research report on Thursday, September 24th. They issued a “buy” rating and a $441.00 price target on the stock. Chardan Capital upgraded Krystal Biotech to a “strong-buy” rating in a research note on Monday, August 3rd. Weiss Ratings raised Krystal Biotech from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Finally, Citigroup restated a “buy” rating on shares of Krystal Biotech in a research note on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.20.

Krystal Biotech Price Performance

The firm’s 50 day moving average price is $337.46 and its 200-day moving average price is $308.68. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 35.91 and a beta of 0.50.

Krystal Biotech (NASDAQ:KRYS) last announced its earnings results on Monday, November 2nd. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.26. The business had revenue of $127.34 million for the quarter, compared to analyst estimates of $125.77 million. Krystal Biotech had a net margin of 54.82% and a return on equity of 19.34%. Analysts expect that Krystal Biotech, Inc. will post 7.33 EPS for the current year.

Insiders Place Their Bets

In other Krystal Biotech news, Director Dino Rossi sold 25,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $329.12, for a total value of $8,228,000.00. Following the sale, the director directly owned 50,000 shares in the company, valued at $16,456,000. This trade represents a 33.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Suma Krishnan sold 25,000 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $359.32, for a total transaction of $8,983,000.00. Following the completion of the sale, the insider owned 1,302,145 shares in the company, valued at $467,886,741.40. This represents a 1.88% 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. 13.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Krystal Biotech

Several large investors have recently added to or reduced their stakes in the company. Provenance Wealth Advisors LLC bought a new stake in Krystal Biotech in the 3rd quarter valued at $201,000. Bridge City Capital LLC raised its stake in shares of Krystal Biotech by 21.9% in the 3rd quarter. Bridge City Capital LLC now owns 14,404 shares of the company’s stock valued at $4,790,000 after buying an additional 2,588 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Krystal Biotech in the 3rd quarter valued at $503,000. Profund Advisors LLC lifted its holdings in shares of Krystal Biotech by 26.7% during the 3rd quarter. Profund Advisors LLC now owns 7,313 shares of the company’s stock worth $2,432,000 after acquiring an additional 1,543 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Krystal Biotech by 13.1% during the 3rd quarter. ProShare Advisors LLC now owns 5,385 shares of the company’s stock worth $1,791,000 after acquiring an additional 625 shares during the period. Institutional investors and hedge funds own 86.29% of the company’s stock.

About Krystal Biotech

Krystal Biotech, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. The company’s platform uses modified herpes simplex virus type 1 vectors to deliver functional genes to target tissues, with an emphasis on therapies that can be administered repeatedly.

Krystal’s lead product, VYJUVEK, is a topical gene therapy for wounds associated with dystrophic epidermolysis bullosa, a rare inherited skin disorder caused by mutations affecting type VII collagen.