VIRGINIA RETIREMENT SYSTEMS ET Al Takes $3.87 Million Position in Krystal Biotech, Inc. $KRYS

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS) in the 2nd quarter, HoldingsChannel reports. The fund purchased 10,400 shares of the company’s stock, valued at approximately $3,865,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in Krystal Biotech by 33,527.2% during the second quarter. California State Teachers Retirement System now owns 8,805,606 shares of the company’s stock valued at $3,272,780,000 after buying an additional 8,779,420 shares during the period. BlackRock Inc. acquired a new stake in Krystal Biotech during the 2nd quarter worth about $1,554,113,000. William Blair Investment Management LLC acquired a new stake in shares of Krystal Biotech during the second quarter worth approximately $211,909,000. Soleus Capital Management L.P. grew its holdings in shares of Krystal Biotech by 108.9% during the 2nd quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company’s stock valued at $126,870,000 after acquiring an additional 481,200 shares in the last quarter. Finally, Norges Bank purchased a new position in Krystal Biotech in the fourth quarter valued at about $70,159,000. Institutional investors and hedge funds own 86.29% of the company’s stock.

Krystal Biotech Price Performance

NASDAQ KRYS opened at $348.09 on Thursday. The firm has a market cap of $10.30 billion, a PE ratio of 43.62 and a beta of 0.54. Krystal Biotech, Inc. has a one year low of $136.73 and a one year high of $382.54. The stock’s 50 day simple moving average is $348.54 and its 200 day simple moving average is $309.17.

Krystal Biotech (NASDAQ:KRYS) last posted its quarterly earnings data on Monday, August 3rd. The company reported $1.79 earnings per share 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 firm had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $120.93 million. As a group, equities analysts expect that Krystal Biotech, Inc. will post 7.48 earnings per share for the current year.

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 value of $347,270.00. Following the transaction, the executive vice president directly owned 1,000 shares in the company, valued at $347,270. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 dated 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 completion of the transaction, the insider directly owned 1,302,145 shares in the company, valued at $467,886,741.40. The trade was a 1.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 51,000 shares of company stock worth $17,558,270 over the last 90 days. Insiders own 13.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on KRYS shares. HC Wainwright increased 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. Weiss Ratings downgraded Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Citigroup boosted their target price on shares of Krystal Biotech from $378.00 to $386.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen cut shares of Krystal Biotech from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $474.00 price objective on shares of Krystal Biotech in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $365.40.

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.