Krystal Biotech, Inc. $KRYS Stake Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in Krystal Biotech, Inc. (NASDAQ:KRYS) by 29.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,665 shares of the company’s stock after selling 45,903 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Krystal Biotech were worth $28,587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of KRYS. Soleus Capital Management L.P. grew its stake in Krystal Biotech by 108.9% in the second quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company’s stock valued at $126,870,000 after purchasing an additional 481,200 shares in the last quarter. Norges Bank acquired a new stake in shares of Krystal Biotech during the 4th quarter valued at about $70,159,000. William Blair Investment Management LLC lifted its holdings in shares of Krystal Biotech by 152.1% during the 4th quarter. William Blair Investment Management LLC now owns 376,340 shares of the company’s stock valued at $92,783,000 after buying an additional 227,038 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Krystal Biotech by 2,078.9% in the 4th quarter. Janus Henderson Group PLC now owns 219,440 shares of the company’s stock valued at $54,147,000 after buying an additional 209,369 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of Krystal Biotech by 970.8% in the 4th quarter. UBS Group AG now owns 159,595 shares of the company’s stock valued at $39,347,000 after buying an additional 177,922 shares in the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.

Krystal Biotech Price Performance

Shares of Krystal Biotech stock opened at $371.58 on Thursday. The firm has a market capitalization of $10.95 billion, a PE ratio of 49.68 and a beta of 0.50. The company’s fifty day moving average price is $310.85 and its two-hundred day moving average price is $279.81. Krystal Biotech, Inc. has a 52-week low of $130.50 and a 52-week high of $382.54.

Krystal Biotech (NASDAQ:KRYS) last released its quarterly earnings data on Monday, May 4th. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.38. Krystal Biotech had a return on equity of 19.25% and a net margin of 53.92%.The company had revenue of $116.36 million for the quarter, compared to the consensus estimate of $112.11 million. Analysts predict that Krystal Biotech, Inc. will post 7.66 earnings per share for the current fiscal year.

Insider Activity at Krystal Biotech

In related news, EVP John Charles Thomas sold 1,000 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $347.27, for a total value of $347,270.00. Following the sale, the executive vice president owned 1,000 shares of the company’s stock, valued at $347,270. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suma Krishnan sold 25,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $308.11, for a total value of $7,702,750.00. Following the completion of the sale, the insider owned 1,378,155 shares in the company, valued at $424,623,337.05. This trade represents a 1.78% decrease in their ownership of the stock. 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 a total of 26,642 shares of company stock valued at $8,243,923 in the last 90 days. 13.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KRYS shares. TD Cowen increased their price objective on Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Wolfe Research assumed coverage on shares of Krystal Biotech in a research note on Friday, March 27th. They issued a “peer perform” rating for the company. Citigroup upped their price objective on shares of Krystal Biotech from $371.00 to $378.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Evercore reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Krystal Biotech in a research report on Tuesday, May 5th. Finally, Weiss Ratings raised Krystal Biotech from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 16th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $340.56.

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.