Summit Global Investments Acquires New Holdings in Krystal Biotech, Inc. $KRYS

Summit Global Investments bought a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,167 shares of the company’s stock, valued at approximately $805,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of Krystal Biotech by 34.6% during the 4th quarter. UMB Bank n.a. now owns 144 shares of the company’s stock worth $36,000 after buying an additional 37 shares in the last quarter. Optimize Financial Inc boosted its holdings in shares of Krystal Biotech by 1.4% in the fourth quarter. Optimize Financial Inc now owns 2,855 shares of the company’s stock valued at $704,000 after acquiring an additional 40 shares in the last quarter. Regal Investment Advisors LLC boosted its holdings in shares of Krystal Biotech by 1.0% in the fourth quarter. Regal Investment Advisors LLC now owns 4,360 shares of the company’s stock valued at $1,075,000 after acquiring an additional 44 shares in the last quarter. Torray Investment Partners LLC increased its stake in shares of Krystal Biotech by 0.4% during the first quarter. Torray Investment Partners LLC now owns 12,032 shares of the company’s stock valued at $3,108,000 after acquiring an additional 47 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Krystal Biotech by 0.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 5,949 shares of the company’s stock valued at $1,537,000 after acquiring an additional 53 shares during the period. Institutional investors own 86.29% of the company’s stock.

Insider Transactions at Krystal Biotech

In other news, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $308.11, for a total transaction of $7,702,750.00. Following the transaction, the insider owned 1,378,155 shares in the company, valued at approximately $424,623,337.05. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Charles Thomas sold 1,000 shares of the company’s 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 transaction, the executive vice president owned 1,000 shares in the company, valued at approximately $347,270. This represents a 50.00% 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 a total of 51,642 shares of company stock valued at $16,471,923 over the last quarter. Company insiders own 13.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on KRYS. Jefferies Financial Group reissued a “buy” rating and set a $474.00 target price on shares of Krystal Biotech in a report on Monday, July 13th. Weiss Ratings upgraded Krystal Biotech from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Royal Bank Of Canada began coverage on Krystal Biotech in a research note on Friday. They issued an “outperform” rating and a $400.00 price objective on the stock. Chardan Capital upgraded Krystal Biotech to a “strong-buy” rating in a report on Monday, August 3rd. Finally, TD Cowen raised their target price on Krystal Biotech from $306.00 to $403.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. One investment 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 stock. According to MarketBeat.com, Krystal Biotech has a consensus rating of “Moderate Buy” and a consensus target price of $365.40.

Krystal Biotech Price Performance

Krystal Biotech stock opened at $332.27 on Friday. Krystal Biotech, Inc. has a fifty-two week low of $136.73 and a fifty-two week high of $382.54. The firm’s 50 day simple moving average is $344.39 and its 200-day simple moving average is $299.25. The company has a market cap of $9.83 billion, a P/E ratio of 41.64 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS) last posted its quarterly earnings data on Monday, August 3rd. The company reported $1.79 EPS 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 firm had revenue of $119.22 million during the quarter, compared to analyst estimates of $120.93 million. On average, analysts expect that Krystal Biotech, Inc. will post 7.68 EPS for the current fiscal year.

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.