Krystal Biotech (NASDAQ:KRYS) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of Krystal Biotech (NASDAQ:KRYS) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Guggenheim set a $224.00 price objective on shares of Krystal Biotech and gave the stock a “buy” rating in a research note on Friday, October 17th. Bank of America lifted their price target on shares of Krystal Biotech from $288.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. TD Cowen reissued a “buy” rating on shares of Krystal Biotech in a research note on Friday, January 9th. The Goldman Sachs Group lifted their price target on shares of Krystal Biotech from $206.00 to $327.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Citigroup increased their target price on Krystal Biotech from $320.00 to $336.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Krystal Biotech currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.89.

Krystal Biotech Stock Performance

NASDAQ KRYS opened at $272.74 on Thursday. The stock has a market capitalization of $7.91 billion, a PE ratio of 40.89 and a beta of 0.49. The stock has a 50-day simple moving average of $256.88 and a 200 day simple moving average of $201.13. Krystal Biotech has a twelve month low of $122.80 and a twelve month high of $295.98.

Insider Transactions at Krystal Biotech

In other news, insider Suma Krishnan sold 25,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $220.16, for a total value of $5,504,000.00. Following the completion of the transaction, the insider directly owned 1,413,711 shares in the company, valued at approximately $311,242,613.76. This represents a 1.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Krystal Biotech

Several hedge funds and other institutional investors have recently bought and sold shares of KRYS. Avoro Capital Advisors LLC boosted its stake in Krystal Biotech by 4.4% during the third quarter. Avoro Capital Advisors LLC now owns 2,777,777 shares of the company’s stock worth $490,361,000 after acquiring an additional 117,777 shares in the last quarter. State Street Corp raised its holdings in shares of Krystal Biotech by 10.5% during the second quarter. State Street Corp now owns 1,355,346 shares of the company’s stock valued at $186,306,000 after purchasing an additional 128,639 shares during the period. Soleus Capital Management L.P. boosted its position 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 worth $126,870,000 after purchasing an additional 481,200 shares in the last quarter. Braidwell LP grew its stake 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 buying an additional 327,067 shares during the period. Finally, Geode Capital Management LLC raised its stake in Krystal Biotech by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 619,547 shares of the company’s stock worth $85,174,000 after buying an additional 7,194 shares during the period. Institutional investors and hedge funds own 86.29% of the company’s stock.

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.