Federated Hermes Inc. Cuts Holdings in Krystal Biotech, Inc. $KRYS

Federated Hermes Inc. lowered its stake in Krystal Biotech, Inc. (NASDAQ:KRYS) by 43.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,981 shares of the company’s stock after selling 18,762 shares during the period. Federated Hermes Inc. owned about 0.08% of Krystal Biotech worth $4,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in KRYS. Soleus Capital Management L.P. raised its holdings 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 acquiring an additional 481,200 shares in the last quarter. Braidwell LP increased its position in shares of Krystal Biotech by 81.6% in the 2nd quarter. Braidwell LP now owns 727,811 shares of the company’s stock valued at $100,045,000 after purchasing an additional 327,067 shares during the last quarter. Norges Bank purchased a new stake in shares of Krystal Biotech in the 2nd quarter valued at approximately $38,861,000. First Trust Advisors LP raised its holdings in shares of Krystal Biotech by 571.3% in the 2nd quarter. First Trust Advisors LP now owns 222,370 shares of the company’s stock valued at $30,567,000 after purchasing an additional 189,245 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Krystal Biotech by 10.5% during the 2nd quarter. State Street Corp now owns 1,355,346 shares of the company’s stock worth $186,306,000 after purchasing an additional 128,639 shares during the last quarter. 86.29% of the stock is owned by institutional investors and hedge funds.

Krystal Biotech Trading Down 1.0%

Shares of KRYS opened at $279.57 on Wednesday. The company’s 50 day simple moving average is $253.79 and its 200-day simple moving average is $199.31. The firm has a market cap of $8.11 billion, a PE ratio of 41.91 and a beta of 0.49. Krystal Biotech, Inc. has a 12-month low of $122.80 and a 12-month high of $295.98.

Krystal Biotech (NASDAQ:KRYS) last issued its quarterly earnings results on Monday, November 3rd. The company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $1.54. Krystal Biotech had a net margin of 53.30% and a return on equity of 19.36%. The firm had revenue of $97.80 million during the quarter, compared to analysts’ expectations of $93.72 million. As a group, equities research analysts forecast that Krystal Biotech, Inc. will post 6.14 EPS for the current fiscal year.

Insider Transactions at Krystal Biotech

In other Krystal Biotech news, insider Suma Krishnan sold 25,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 1,413,711 shares of the company’s stock, valued at $311,242,613.76. This represents a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KRYS has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $310.00 target price (up previously from $240.00) on shares of Krystal Biotech in a report on Friday, January 9th. Guggenheim set a $224.00 price objective on Krystal Biotech and gave the company a “buy” rating in a report on Friday, October 17th. The Goldman Sachs Group boosted their target price on Krystal Biotech from $206.00 to $327.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Research raised Krystal Biotech from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 7th. Finally, Bank of America raised their price objective on shares of Krystal Biotech from $288.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $277.89.

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.