KLP Kapitalforvaltning AS Makes New Investment in Krystal Biotech, Inc. (NASDAQ:KRYS)

KLP Kapitalforvaltning AS bought a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS) during the 4th quarter, HoldingsChannel reports. The fund bought 4,300 shares of the company’s stock, valued at approximately $674,000.

Other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP purchased a new stake in Krystal Biotech in the 4th quarter worth about $548,000. Janney Montgomery Scott LLC raised its holdings in shares of Krystal Biotech by 42.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 52,592 shares of the company’s stock worth $8,239,000 after buying an additional 15,545 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Krystal Biotech by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 123,453 shares of the company’s stock worth $19,340,000 after buying an additional 3,727 shares during the period. abrdn plc lifted its stake in shares of Krystal Biotech by 32.5% during the 4th quarter. abrdn plc now owns 57,033 shares of the company’s stock worth $8,935,000 after acquiring an additional 13,979 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Krystal Biotech by 74.4% during the 4th quarter. Blue Trust Inc. now owns 1,015 shares of the company’s stock valued at $159,000 after acquiring an additional 433 shares during the period. Institutional investors own 86.29% of the company’s stock.

Krystal Biotech Stock Performance

Shares of KRYS opened at $174.58 on Wednesday. The company has a 50 day moving average price of $171.92 and a 200-day moving average price of $173.26. Krystal Biotech, Inc. has a fifty-two week low of $141.72 and a fifty-two week high of $219.34. The stock has a market capitalization of $5.03 billion, a PE ratio of 58.39 and a beta of 0.87.

Krystal Biotech (NASDAQ:KRYS) last posted its earnings results on Monday, February 24th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.23. Krystal Biotech had a return on equity of 11.41% and a net margin of 30.69%. The company had revenue of $91.10 million during the quarter, compared to analyst estimates of $91.35 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. Krystal Biotech’s revenue was up 116.4% on a year-over-year basis. Equities research analysts forecast that Krystal Biotech, Inc. will post 6.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Jefferies Financial Group began coverage on Krystal Biotech in a research note on Wednesday, March 5th. They issued a “buy” rating and a $245.00 target price on the stock. Citigroup raised their price target on shares of Krystal Biotech from $206.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Krystal Biotech in a report on Thursday, February 20th. HC Wainwright restated a “buy” rating and issued a $221.00 target price on shares of Krystal Biotech in a research note on Friday, February 28th. Finally, Chardan Capital lifted their price target on shares of Krystal Biotech from $212.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $220.00.

Insider Activity at Krystal Biotech

In related news, CAO Kathryn Romano sold 750 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $175.22, for a total transaction of $131,415.00. Following the completion of the sale, the chief accounting officer now owns 12,604 shares of the company’s stock, valued at $2,208,472.88. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $177.79, for a total transaction of $4,444,750.00. Following the completion of the transaction, the insider now directly owns 1,463,711 shares in the company, valued at $260,233,178.69. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.10% of the stock is owned by corporate insiders.

About Krystal Biotech

Krystal Biotech, Inc, a commercial-stage biotechnology company, discovers, develops, and commercializes genetic medicines for patients with rare diseases in the United States. It commercializes VYJUVEK (beremagene geperpavec-svdt, or B-VEC) for the treatment of dystrophic epidermolysis bullosa (DEB).