Seven Fleet Capital Management LP Reduces Stake in Krystal Biotech, Inc. $KRYS

Seven Fleet Capital Management LP reduced its stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) by 58.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,774 shares of the company’s stock after selling 2,542 shares during the quarter. Seven Fleet Capital Management LP’s holdings in Krystal Biotech were worth $659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in shares of Krystal Biotech by 34.6% in the 4th quarter. UMB Bank n.a. now owns 144 shares of the company’s stock valued at $36,000 after purchasing an additional 37 shares during the last quarter. Optimize Financial Inc raised its holdings in Krystal Biotech by 1.4% during the 4th quarter. Optimize Financial Inc now owns 2,855 shares of the company’s stock valued at $704,000 after buying an additional 40 shares during the period. Regal Investment Advisors LLC raised its holdings in Krystal Biotech by 1.0% during the 4th quarter. Regal Investment Advisors LLC now owns 4,360 shares of the company’s stock valued at $1,075,000 after buying an additional 44 shares during the period. Torray Investment Partners LLC lifted its position in Krystal Biotech by 0.4% in the first quarter. Torray Investment Partners LLC now owns 12,032 shares of the company’s stock worth $3,108,000 after buying an additional 47 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Krystal Biotech by 0.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 5,949 shares of the company’s stock worth $1,537,000 after buying an additional 53 shares during the last quarter. 86.29% of the stock is currently owned by hedge funds and other institutional investors.

Krystal Biotech Stock Down 3.6%

KRYS opened at $358.24 on Friday. The business has a fifty day moving average of $349.81 and a 200 day moving average of $307.38. The stock has a market cap of $10.60 billion, a P/E ratio of 44.89 and a beta of 0.54. Krystal Biotech, Inc. has a 52-week low of $136.73 and a 52-week high of $382.54.

Krystal Biotech (NASDAQ:KRYS) last released its earnings results on Monday, August 3rd. The company reported $1.79 earnings per share 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 for the quarter, compared to analyst estimates of $120.93 million. Equities analysts anticipate that Krystal Biotech, Inc. will post 7.48 EPS for the current fiscal year.

Insider Activity

In related news, Director Dino A. Rossi sold 25,000 shares of Krystal Biotech stock in a transaction dated 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 owned 50,000 shares in the company, valued at $16,456,000. This trade represents a 33.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Suma Krishnan sold 25,000 shares of the business’s stock in a transaction dated 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 approximately $467,886,741.40. This trade represents a 1.88% 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. Over the last ninety days, insiders sold 51,000 shares of company stock valued at $17,558,270. 13.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KRYS has been the subject of several recent analyst reports. Weiss Ratings lowered shares of Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. HC Wainwright raised their target price on shares of Krystal Biotech from $310.00 to $361.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Royal Bank Of Canada began coverage on shares of Krystal Biotech in a research note on Friday, August 14th. They set an “outperform” rating and a $400.00 price target for the company. Bank of America upped their price target on shares of Krystal Biotech from $364.00 to $396.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen lowered shares of Krystal Biotech from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.