Legal & General Group Plc Makes New $21.77 Million Investment in Krystal Biotech, Inc. $KRYS

Legal & General Group Plc purchased a new position in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 58,580 shares of the company’s stock, valued at approximately $21,772,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Krystal Biotech in the second quarter worth $1,554,113,000. William Blair Investment Management LLC bought a new position in Krystal Biotech in the second quarter valued at $211,909,000. Soleus Capital Management L.P. increased its stake in Krystal Biotech by 108.9% in the 2nd quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company’s stock valued at $126,870,000 after buying an additional 481,200 shares during the last quarter. Norges Bank acquired a new stake in Krystal Biotech in the 4th quarter valued at $70,159,000. Finally, Janus Henderson Group PLC lifted its position in Krystal Biotech by 2,078.9% during the 4th quarter. Janus Henderson Group PLC now owns 219,440 shares of the company’s stock worth $54,147,000 after buying an additional 209,369 shares in the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Krystal Biotech

In related news, insider Suma Krishnan sold 25,000 shares of the business’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 transaction of $7,702,750.00. Following the transaction, the insider directly owned 1,378,155 shares of the company’s stock, valued at approximately $424,623,337.05. The trade was a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Charles Thomas sold 1,000 shares of the stock in a transaction 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 owned 1,000 shares in the company, valued at approximately $347,270. This trade represents a 50.00% decrease in their position. 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 have sold 51,000 shares of company stock worth $16,278,020 over the last 90 days. Company insiders own 13.10% of the company’s stock.

Analyst Ratings Changes

KRYS has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Krystal Biotech from $364.00 to $396.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Citigroup upped their target price on Krystal Biotech from $378.00 to $386.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Chardan Capital raised Krystal Biotech to a “strong-buy” rating in a research report on Monday, August 3rd. TD Cowen raised their price target on Krystal Biotech from $306.00 to $403.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, Royal Bank Of Canada began coverage on Krystal Biotech in a research report on Friday, August 14th. They set an “outperform” rating and a $400.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $365.40.

Krystal Biotech Price Performance

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

Krystal Biotech (NASDAQ:KRYS) last issued its earnings results on Monday, August 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.09. Krystal Biotech had a net margin of 54.82% and a return on equity of 19.34%. The business had revenue of $119.22 million during the quarter, compared to the consensus estimate of $120.93 million. As a group, analysts expect that Krystal Biotech, Inc. will post 7.48 EPS for the current 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.