Palisade Capital Management LP Buys Shares of 10,065 Krystal Biotech, Inc. $KRYS

Palisade Capital Management LP purchased a new stake in Krystal Biotech, Inc. (NASDAQ:KRYS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 10,065 shares of the company’s stock, valued at approximately $3,741,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Silvant Capital Management LLC purchased a new stake in shares of Krystal Biotech during the 2nd quarter valued at approximately $30,000. Western Wealth Management LLC purchased a new position in Krystal Biotech in the first quarter worth approximately $34,000. Greenline Wealth Management LLC purchased a new position in Krystal Biotech in the fourth quarter worth approximately $34,000. UMB Bank n.a. increased its stake in Krystal Biotech by 34.6% during the fourth quarter. UMB Bank n.a. now owns 144 shares of the company’s stock worth $36,000 after acquiring an additional 37 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in Krystal Biotech by 788.9% during the fourth quarter. Global Retirement Partners LLC now owns 160 shares of the company’s stock worth $39,000 after acquiring an additional 142 shares during the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.

Insider Buying and Selling

In other news, EVP John Charles Thomas sold 1,000 shares of the firm’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 sale, the executive vice president directly owned 1,000 shares in the company, valued at approximately $347,270. This trade represents a 50.00% decrease in their position. 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 completion of the sale, the insider owned 1,378,155 shares in the company, valued at $424,623,337.05. The trade was a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 51,000 shares of company stock worth $16,278,020 over the last 90 days. 13.10% of the stock is owned by insiders.

Krystal Biotech Stock Performance

Shares of KRYS opened at $356.19 on Wednesday. The stock has a 50-day simple moving average of $348.02 and a 200-day simple moving average of $302.59. The stock has a market capitalization of $10.54 billion, a PE ratio of 44.64 and a beta of 0.53. Krystal Biotech, Inc. has a 1 year low of $136.73 and a 1 year high of $382.54.

Krystal Biotech (NASDAQ:KRYS) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.79 EPS for the quarter, topping 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 business had revenue of $119.22 million during the quarter, compared to the consensus estimate of $120.93 million. Analysts predict that Krystal Biotech, Inc. will post 7.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Evercore reiterated an “outperform” rating and set a $300.00 price target on shares of Krystal Biotech in a report on Tuesday, May 5th. HC Wainwright boosted their price target on shares of Krystal Biotech from $310.00 to $361.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. TD Cowen upped their price objective on shares of Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Royal Bank Of Canada assumed coverage on shares of Krystal Biotech in a research report on Friday, August 14th. They set an “outperform” rating and a $400.00 price objective for the company. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $474.00 target price on shares of Krystal Biotech in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.40.

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.