Braidwell LP Cuts Holdings in Krystal Biotech, Inc. $KRYS

Braidwell LP lowered its position in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) by 28.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 520,401 shares of the company’s stock after selling 207,410 shares during the quarter. Krystal Biotech accounts for 2.7% of Braidwell LP’s holdings, making the stock its 10th biggest position. Braidwell LP owned approximately 1.79% of Krystal Biotech worth $91,866,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Avoro Capital Advisors LLC increased its stake in Krystal Biotech by 4.4% in the 3rd quarter. Avoro Capital Advisors LLC now owns 2,777,777 shares of the company’s stock valued at $490,361,000 after buying an additional 117,777 shares during the last quarter. State Street Corp boosted its stake 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 worth $186,306,000 after buying an additional 128,639 shares during the last quarter. Soleus Capital Management L.P. boosted its stake 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 worth $126,870,000 after buying an additional 481,200 shares during the last quarter. Geode Capital Management LLC grew its stake in Krystal Biotech by 1.2% in the second quarter. Geode Capital Management LLC now owns 619,547 shares of the company’s stock valued at $85,174,000 after purchasing an additional 7,194 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Krystal Biotech by 5.5% in the third quarter. Dimensional Fund Advisors LP now owns 533,964 shares of the company’s stock valued at $94,261,000 after buying an additional 28,075 shares in the last quarter. 86.29% of the stock is owned by institutional investors.

Insider Transactions at Krystal Biotech

In related news, Director Dino A. Rossi sold 18,950 shares of Krystal Biotech stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $261.41, for a total transaction of $4,953,719.50. Following the completion of the sale, the director directly owned 78,691 shares of the company’s stock, valued at approximately $20,570,614.31. This trade represents a 19.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Suma Krishnan sold 25,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $263.21, for a total value of $6,580,250.00. Following the completion of the sale, the insider owned 1,403,155 shares of the company’s stock, valued at $369,324,427.55. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 129,164 shares of company stock worth $34,538,578. Insiders own 13.70% of the company’s stock.

Krystal Biotech Price Performance

Shares of Krystal Biotech stock opened at $247.26 on Friday. The business has a fifty day simple moving average of $270.50 and a two-hundred day simple moving average of $222.56. Krystal Biotech, Inc. has a 1 year low of $122.80 and a 1 year high of $298.30. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 36.10 and a beta of 0.49.

Krystal Biotech (NASDAQ:KRYS) last released its quarterly earnings data on Tuesday, February 17th. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.62 by $0.08. The firm had revenue of $107.11 million for the quarter, compared to the consensus estimate of $105.30 million. Krystal Biotech had a net margin of 52.64% and a return on equity of 18.69%. As a group, equities analysts anticipate that Krystal Biotech, Inc. will post 6.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research lowered shares of Krystal Biotech from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings upgraded shares of Krystal Biotech from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. HC Wainwright reaffirmed a “buy” rating and issued a $310.00 target price (up from $240.00) on shares of Krystal Biotech in a report on Friday, January 9th. Citigroup raised their target price on shares of Krystal Biotech from $336.00 to $371.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, TD Cowen reiterated a “buy” rating on shares of Krystal Biotech in a report on Friday, January 9th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $326.25.

Krystal Biotech Profile

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.