Kornitzer Capital Management Inc. KS Acquires 3,167 Shares of Krystal Biotech, Inc. $KRYS

Kornitzer Capital Management Inc. KS boosted its stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) by 24.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,293 shares of the company’s stock after buying an additional 3,167 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Krystal Biotech were worth $5,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Krystal Biotech in the second quarter valued at about $1,554,113,000. William Blair Investment Management LLC bought a new position in Krystal Biotech during the second quarter valued at about $211,909,000. Jupiter Topco LLC bought a new position in Krystal Biotech during the second quarter valued at about $95,387,000. Bank of America Corp DE acquired a new position in Krystal Biotech in the 2nd quarter valued at approximately $95,308,000. Finally, Bank of New York Mellon Corp acquired a new position in Krystal Biotech in the 2nd quarter valued at approximately $60,809,000. 86.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. TD Cowen reduced their target price on Krystal Biotech from $403.00 to $380.00 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. Chardan Capital raised shares of Krystal Biotech to a “strong-buy” rating in a report on Monday, August 3rd. The Goldman Sachs Group initiated coverage on shares of Krystal Biotech in a report on Thursday, September 24th. They issued a “buy” rating and a $441.00 price target on the stock. Royal Bank Of Canada dropped their price objective on shares of Krystal Biotech from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Tuesday, November 3rd. Finally, Weiss Ratings downgraded shares of Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Krystal Biotech currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.00.

Krystal Biotech Stock Performance

Shares of NASDAQ KRYS opened at $300.88 on Monday. The stock has a market cap of $8.92 billion, a PE ratio of 40.83 and a beta of 0.56. The business has a fifty day moving average of $332.48 and a two-hundred day moving average of $309.12. Krystal Biotech, Inc. has a 52-week low of $192.52 and a 52-week high of $382.54.

Krystal Biotech (NASDAQ:KRYS) last issued its quarterly earnings data on Monday, November 2nd. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.26. Krystal Biotech had a net margin of 47.91% and a return on equity of 17.02%. The firm had revenue of $127.34 million for the quarter, compared to analysts’ expectations of $125.77 million. Analysts predict that Krystal Biotech, Inc. will post 7.74 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Suma Krishnan sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $359.32, for a total transaction of $8,983,000.00. Following the completion of the sale, the insider directly owned 1,302,145 shares of the company’s stock, valued at $467,886,741.40. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dino A. Rossi sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $329.12, for a total transaction of $8,228,000.00. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at approximately $16,456,000. The trade was a 33.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 13.10% of the company’s stock.

About Krystal Biotech

Krystal Biotech, Inc is a biotechnology company that develops genetic medicines for people with serious diseases. Founded in 2016 and headquartered in Pittsburgh, Pennsylvania, the company focuses on treatments that deliver functional genes to patients’ cells.

Its commercial product, Vyjuvek (beremagene geperpavec-svdt), is a topical gene therapy for wounds associated with dystrophic epidermolysis bullosa, a rare inherited skin disorder. The treatment is designed to help cells produce collagen VII, a protein that supports the skin’s structure.