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

Legal & General Group Plc bought a new stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 58,580 shares of the company’s stock, valued at approximately $21,772,000. Legal & General Group Plc owned about 0.20% of Krystal Biotech as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Krystal Biotech in the 2nd quarter worth $1,554,113,000. Avoro Capital Advisors LLC lifted its stake in Krystal Biotech by 4.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,888,888 shares of the company’s stock valued at $712,226,000 after buying an additional 111,111 shares during the period. State Street Corp lifted its stake in Krystal Biotech by 10.5% in the second quarter. State Street Corp now owns 1,355,346 shares of the company’s stock valued at $186,306,000 after buying an additional 128,639 shares during the period. Soleus Capital Management L.P. boosted its holdings in 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 buying an additional 481,200 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in Krystal Biotech during the second quarter worth about $211,909,000. Institutional investors and hedge funds own 86.29% of the company’s stock.

Krystal Biotech Price Performance

NASDAQ KRYS opened at $351.46 on Friday. The firm has a market cap of $10.40 billion, a P/E ratio of 44.04 and a beta of 0.53. The stock’s 50-day moving average is $348.64 and its 200-day moving average is $304.16. Krystal Biotech, Inc. has a one year low of $136.73 and a one year high of $382.54.

Krystal Biotech (NASDAQ:KRYS) last issued its quarterly earnings data 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 return on equity of 19.34% and a net margin of 54.82%.The business had revenue of $119.22 million during the quarter, compared to analyst estimates of $120.93 million. Equities analysts anticipate that Krystal Biotech, Inc. will post 7.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Chardan Capital raised Krystal Biotech to a “strong-buy” rating in a research note on Monday, August 3rd. Jefferies Financial Group reissued a “buy” rating and set a $474.00 price objective on shares of Krystal Biotech in a research note on Monday, July 13th. Citigroup boosted their price objective on shares of Krystal Biotech from $378.00 to $386.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. TD Cowen upped their target price on shares of Krystal Biotech from $306.00 to $403.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, Evercore reiterated an “outperform” rating and issued a $300.00 target price on shares of Krystal Biotech in a report on Tuesday, May 5th. One equities research 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’s stock. Based on data from MarketBeat.com, Krystal Biotech has an average rating of “Moderate Buy” and a consensus target price of $365.40.

Insider Buying and Selling at Krystal Biotech

In related news, insider Suma Krishnan sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $308.11, for a total transaction of $7,702,750.00. Following the sale, the insider directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dino A. Rossi sold 25,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $329.12, for a total transaction of $8,228,000.00. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at $16,456,000. This represents a 33.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 51,000 shares of company stock valued at $16,278,020. 13.10% of the stock is currently owned by corporate insiders.

Krystal Biotech Company 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.