Granite Investment Partners LLC Lowers Position in Krystal Biotech, Inc. $KRYS

Granite Investment Partners LLC trimmed its position in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) by 5.7% during the first quarter, HoldingsChannel reports. The fund owned 24,284 shares of the company’s stock after selling 1,476 shares during the quarter. Granite Investment Partners LLC’s holdings in Krystal Biotech were worth $6,273,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Soleus Capital Management L.P. raised 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 purchasing an additional 481,200 shares during the last quarter. Norges Bank purchased a new stake in Krystal Biotech during the fourth quarter worth $70,159,000. William Blair Investment Management LLC grew its holdings in Krystal Biotech by 152.1% in the fourth quarter. William Blair Investment Management LLC now owns 376,340 shares of the company’s stock valued at $92,783,000 after purchasing an additional 227,038 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Krystal Biotech by 2,078.9% in the fourth quarter. Janus Henderson Group PLC now owns 219,440 shares of the company’s stock valued at $54,147,000 after buying an additional 209,369 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Krystal Biotech by 970.8% in the fourth quarter. UBS Group AG now owns 159,595 shares of the company’s stock valued at $39,347,000 after buying an additional 177,922 shares in the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.

Krystal Biotech Stock Performance

Shares of NASDAQ:KRYS opened at $375.40 on Thursday. Krystal Biotech, Inc. has a 1 year low of $130.50 and a 1 year high of $382.54. The stock has a 50-day simple moving average of $320.99 and a 200-day simple moving average of $284.56. The stock has a market capitalization of $11.07 billion, a P/E ratio of 50.19 and a beta of 0.50.

Krystal Biotech (NASDAQ:KRYS) last posted its earnings results on Monday, May 4th. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.38. The business had revenue of $116.36 million during the quarter, compared to analyst estimates of $112.11 million. Krystal Biotech had a return on equity of 19.25% and a net margin of 53.92%. Analysts predict that Krystal Biotech, Inc. will post 7.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on KRYS. TD Cowen boosted their price objective on shares of Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Wolfe Research started coverage on Krystal Biotech in a report on Friday, March 27th. They set a “peer perform” rating on the stock. Evercore reiterated an “outperform” rating and issued a $300.00 target price on shares of Krystal Biotech in a research note on Tuesday, May 5th. Weiss Ratings lowered Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen cut Krystal Biotech from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Krystal Biotech presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.56.

Insider Activity at Krystal Biotech

In other news, EVP John Charles Thomas sold 1,000 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 1,000 shares in the company, valued at approximately $347,270. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 of the company’s stock, valued at approximately $424,623,337.05. The trade was a 1.78% decrease in their ownership of the stock. 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 26,642 shares of company stock valued at $8,243,923 in the last ninety days. 13.10% of the stock is 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.