S Squared Technology LLC Invests $28.82 Billion in Krystal Biotech, Inc. $KRYS

S Squared Technology LLC bought a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 77,545 shares of the company’s stock, valued at approximately $28,821,150,000. Krystal Biotech comprises about 8.9% of S Squared Technology LLC’s portfolio, making the stock its 2nd biggest position.

A number of other large investors have also added to or reduced their stakes in KRYS. BlackRock Inc. bought a new stake in Krystal Biotech during the second quarter worth about $1,554,113,000. Avoro Capital Advisors LLC increased its position in shares of Krystal Biotech by 4.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,888,888 shares of the company’s stock valued at $712,226,000 after purchasing an additional 111,111 shares during the last quarter. State Street Corp increased 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 valued at $186,306,000 after purchasing an additional 128,639 shares during the last quarter. Soleus Capital Management L.P. raised its holdings 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 valued at $126,870,000 after buying an additional 481,200 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of Krystal Biotech during the 2nd quarter valued at about $211,909,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.

Krystal Biotech Price Performance

Shares of Krystal Biotech stock opened at $341.72 on Tuesday. The business’s 50 day simple moving average is $347.37 and its two-hundred day simple moving average is $301.97. The stock has a market capitalization of $10.11 billion, a P/E ratio of 42.82 and a beta of 0.53. Krystal Biotech, Inc. has a one year low of $136.73 and a one year high of $382.54.

Krystal Biotech (NASDAQ:KRYS) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.09. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%.The firm had revenue of $119.22 million during the quarter, compared to analyst estimates of $120.93 million. Sell-side analysts expect that Krystal Biotech, Inc. will post 7.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on KRYS shares. Royal Bank Of Canada started coverage on Krystal Biotech in a research report on Friday, August 14th. They issued an “outperform” rating and a $400.00 target price for the company. TD Cowen lifted their price target on shares of Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Chardan Capital upgraded shares of Krystal Biotech to a “strong-buy” rating in a report on Monday, August 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $474.00 target price on shares of Krystal Biotech in a report on Monday, July 13th. Finally, HC Wainwright boosted their price target on shares of Krystal Biotech from $310.00 to $361.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $365.40.

Insider Buying and Selling

In related news, Director Dino A. Rossi sold 25,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 50,000 shares in the company, valued at $16,456,000. This represents a 33.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Suma Krishnan sold 25,000 shares of the company’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 owned 1,378,155 shares of the company’s stock, valued at $424,623,337.05. This represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 51,000 shares of company stock valued at $16,278,020 over the last three months. 13.10% of the stock is owned by company insiders.

About Krystal Biotech

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.