Hsbc Holdings PLC Takes $3.65 Million Position in Krystal Biotech, Inc. $KRYS

Hsbc Holdings PLC purchased a new stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 9,598 shares of the company’s stock, valued at approximately $3,653,000.

Other large investors have also recently added to or reduced their stakes in the company. Silvant Capital Management LLC acquired a new position in Krystal Biotech in the second quarter worth $30,000. Western Wealth Management LLC bought a new position in shares of Krystal Biotech in the 1st quarter worth about $34,000. Greenline Wealth Management LLC bought a new position in shares of Krystal Biotech in the 4th quarter worth about $34,000. UMB Bank n.a. boosted its holdings in shares of Krystal Biotech by 34.6% in the 4th quarter. UMB Bank n.a. now owns 144 shares of the company’s stock valued at $36,000 after buying an additional 37 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of Krystal Biotech by 788.9% in 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 period. 86.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Krystal Biotech

In other news, Director Dino A. Rossi sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $329.12, for a total transaction of $8,228,000.00. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at approximately $16,456,000. The trade was a 33.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Suma Krishnan sold 25,000 shares of the 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 transaction, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 51,000 shares of company stock worth $16,278,020. 13.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KRYS. Wall Street Zen lowered shares of Krystal Biotech from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. TD Cowen lifted their target price on Krystal Biotech from $306.00 to $403.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Royal Bank Of Canada started coverage on Krystal Biotech in a report on Friday, August 14th. They set an “outperform” rating and a $400.00 target price for the company. Weiss Ratings cut Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Finally, HC Wainwright raised their price target on Krystal Biotech from $310.00 to $361.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Krystal Biotech presently has a consensus rating of “Moderate Buy” and an average price target of $365.40.

Krystal Biotech Stock Down 1.7%

KRYS stock opened at $351.46 on Friday. Krystal Biotech, Inc. has a fifty-two week low of $136.73 and a fifty-two week high of $382.54. The firm’s 50-day simple moving average is $348.64 and its 200 day simple moving average is $304.16. The stock has a market cap of $10.40 billion, a PE ratio of 44.04 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS) last posted its earnings results on Monday, August 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.09. The firm had revenue of $119.22 million during the quarter, compared to analyst estimates of $120.93 million. Krystal Biotech had a net margin of 54.82% and a return on equity of 19.34%. Equities analysts forecast that Krystal Biotech, Inc. will post 7.48 EPS for the current fiscal year.

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.