Empowered Funds LLC Purchases Shares of 2,325 Krystal Biotech, Inc. $KRYS

Empowered Funds LLC acquired a new stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,325 shares of the company’s stock, valued at approximately $864,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Krystal Biotech during the 2nd quarter worth $1,554,113,000. William Blair Investment Management LLC purchased a new stake in shares of Krystal Biotech in the 2nd quarter valued at approximately $211,909,000. Soleus Capital Management L.P. grew its stake in shares of Krystal Biotech by 108.9% during the second quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company’s stock worth $126,870,000 after purchasing an additional 481,200 shares in the last quarter. Norges Bank acquired a new position in Krystal Biotech in the fourth quarter valued at approximately $70,159,000. Finally, Jupiter Topco LLC acquired a new stake in Krystal Biotech during the second quarter worth approximately $95,387,000. Institutional investors and hedge funds own 86.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on KRYS shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $474.00 price objective on shares of Krystal Biotech in a report on Monday, July 13th. Wall Street Zen downgraded Krystal Biotech from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. HC Wainwright upped their target price on shares of Krystal Biotech from $310.00 to $361.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. TD Cowen boosted their target price on Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, Royal Bank Of Canada started coverage on Krystal Biotech in a research report on Friday, August 14th. They set an “outperform” rating and a $400.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.40.

Insider Activity at Krystal Biotech

In related news, EVP John Thomas sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $347.27, for a total transaction of $347,270.00. Following the completion of the sale, the executive vice president directly owned 1,000 shares of the company’s stock, valued at $347,270. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suma Krishnan sold 25,000 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.32, for a total value of $8,983,000.00. Following the sale, the insider owned 1,302,145 shares of the company’s stock, valued at $467,886,741.40. This trade represents a 1.88% 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 sold 51,000 shares of company stock valued at $17,558,270 over the last 90 days. 13.10% of the stock is currently owned by corporate insiders.

Krystal Biotech Stock Performance

Krystal Biotech stock opened at $358.24 on Friday. The firm’s 50-day moving average is $349.81 and its 200-day moving average is $307.38. Krystal Biotech, Inc. has a 1 year low of $136.73 and a 1 year high of $382.54. The company has a market cap of $10.60 billion, a P/E ratio of 44.89 and a beta of 0.54.

Krystal Biotech (NASDAQ:KRYS) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $120.93 million. As a group, sell-side analysts predict that Krystal Biotech, Inc. will post 7.48 earnings per share for the current year.

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.