Krystal Biotech (NASDAQ:KRYS) Announces Earnings Results, Beats Estimates By $0.06 EPS

Krystal Biotech (NASDAQ:KRYS) posted its quarterly earnings data on Monday. The company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06, FiscalAI reports. The firm had revenue of $119.22 million for the quarter, compared to analyst estimates of $121.81 million. Krystal Biotech had a net margin of 53.92% and a return on equity of 19.25%.

Krystal Biotech Price Performance

Shares of KRYS opened at $341.12 on Monday. Krystal Biotech has a 52-week low of $130.50 and a 52-week high of $382.54. The company has a 50-day simple moving average of $339.70 and a 200-day simple moving average of $296.45. The company has a market capitalization of $10.06 billion, a PE ratio of 45.60 and a beta of 0.53.

Insider Transactions at Krystal Biotech

In other news, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction that occurred 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 directly owned 1,378,155 shares in the company, valued at approximately $424,623,337.05. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Charles Thomas sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was 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 $347,270. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 26,642 shares of company stock worth $8,243,923. 13.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Krystal Biotech

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in Krystal Biotech by 145.2% during the first quarter. Royal Bank of Canada now owns 1,628 shares of the company’s stock worth $294,000 after purchasing an additional 964 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Krystal Biotech by 29.9% in the first quarter. AQR Capital Management LLC now owns 12,131 shares of the company’s stock valued at $2,187,000 after buying an additional 2,792 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Krystal Biotech by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,893 shares of the company’s stock worth $2,870,000 after buying an additional 688 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Krystal Biotech during the 1st quarter worth $218,000. Finally, Cetera Investment Advisers boosted its position in shares of Krystal Biotech by 107.9% in the 2nd quarter. Cetera Investment Advisers now owns 4,344 shares of the company’s stock worth $597,000 after buying an additional 2,255 shares in the last quarter. 86.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KRYS. Bank of America lifted their target price 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. HC Wainwright raised their price objective on shares of Krystal Biotech from $310.00 to $361.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Weiss Ratings lowered Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Jefferies Financial Group reiterated a “buy” rating and set a $474.00 target price on shares of Krystal Biotech in a research report on Monday, July 13th. Finally, Wall Street Zen downgraded Krystal Biotech from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

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.