Krystal Biotech (NASDAQ:KRYS) Shares Gap Up Following Strong Earnings

Shares of Krystal Biotech, Inc. (NASDAQ:KRYS) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $276.45, but opened at $289.00. Krystal Biotech shares last traded at $285.45, with a volume of 212,409 shares trading hands.

The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.08. Krystal Biotech had a net margin of 53.30% and a return on equity of 19.36%. The firm had revenue of $107.11 million during the quarter, compared to the consensus estimate of $105.30 million.

Wall Street Analyst Weigh In

A number of research analysts have commented on KRYS shares. The Goldman Sachs Group raised their target price on shares of Krystal Biotech from $206.00 to $327.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Chardan Capital boosted their price objective on shares of Krystal Biotech from $216.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Bank of America increased their target price on Krystal Biotech from $288.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Citigroup lifted their price target on Krystal Biotech from $320.00 to $336.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, TD Cowen restated a “buy” rating on shares of Krystal Biotech in a research note on Friday, January 9th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Krystal Biotech has an average rating of “Moderate Buy” and a consensus price target of $277.89.

Insiders Place Their Bets

In other news, insider Suma Krishnan sold 25,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $220.16, for a total transaction of $5,504,000.00. Following the sale, the insider owned 1,413,711 shares in the company, valued at approximately $311,242,613.76. The trade was a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kathryn Romano sold 12,500 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $272.14, for a total transaction of $3,401,750.00. Following the transaction, the chief accounting officer owned 19,318 shares in the company, valued at approximately $5,257,200.52. This trade represents a 39.29% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. raised its holdings in shares of Krystal Biotech by 34.6% in the fourth quarter. UMB Bank n.a. now owns 144 shares of the company’s stock worth $36,000 after buying an additional 37 shares during the last quarter. Optimize Financial Inc increased its position in shares of Krystal Biotech by 1.4% in the 4th quarter. Optimize Financial Inc now owns 2,855 shares of the company’s stock valued at $704,000 after acquiring an additional 40 shares during the period. Perigon Wealth Management LLC raised its stake in Krystal Biotech by 0.5% in the 4th quarter. Perigon Wealth Management LLC now owns 8,970 shares of the company’s stock worth $2,211,000 after acquiring an additional 41 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Krystal Biotech by 2.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 2,124 shares of the company’s stock worth $524,000 after acquiring an additional 55 shares during the period. Finally, Sound View Wealth Advisors Group LLC grew its stake in Krystal Biotech by 2.9% during the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 2,003 shares of the company’s stock valued at $354,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.

Krystal Biotech Price Performance

The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 42.98 and a beta of 0.49. The business has a fifty day moving average price of $262.91 and a two-hundred day moving average price of $206.95.

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.