Granite Investment Partners LLC Lowers Stock Holdings in Krystal Biotech, Inc. $KRYS

Granite Investment Partners LLC reduced its position in Krystal Biotech, Inc. (NASDAQ:KRYS) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,284 shares of the company’s stock after selling 1,476 shares during the quarter. Granite Investment Partners LLC owned approximately 0.08% of Krystal Biotech worth $6,273,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Handelsbanken Fonder AB lifted its position in shares of Krystal Biotech by 58.4% during the 4th quarter. Handelsbanken Fonder AB now owns 105,800 shares of the company’s stock worth $26,084,000 after buying an additional 39,000 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Krystal Biotech by 469.9% in the 4th quarter. SG Americas Securities LLC now owns 18,909 shares of the company’s stock valued at $4,662,000 after buying an additional 15,591 shares in the last quarter. Fisher Asset Management LLC purchased a new position in shares of Krystal Biotech in the 4th quarter valued at $933,000. Principal Financial Group Inc. grew its position in shares of Krystal Biotech by 15.6% in the 4th quarter. Principal Financial Group Inc. now owns 165,074 shares of the company’s stock valued at $40,697,000 after buying an additional 22,231 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in Krystal Biotech during the 3rd quarter worth $1,450,000. Institutional investors and hedge funds own 86.29% of the company’s stock.

Krystal Biotech Stock Performance

Shares of Krystal Biotech stock opened at $375.40 on Thursday. Krystal Biotech, Inc. has a 1 year low of $130.50 and a 1 year high of $382.54. The company has a market capitalization of $11.07 billion, a P/E ratio of 50.19 and a beta of 0.50. The company’s fifty day moving average is $320.99 and its two-hundred day moving average is $284.56.

Krystal Biotech (NASDAQ:KRYS) last announced its earnings results on Monday, May 4th. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.38. Krystal Biotech had a net margin of 53.92% and a return on equity of 19.25%. The business had revenue of $116.36 million during the quarter, compared to analysts’ expectations of $112.11 million. As a group, equities analysts expect that Krystal Biotech, Inc. will post 7.66 earnings per share for the current year.

Analyst Ratings Changes

KRYS has been the subject of several research analyst reports. HC Wainwright upped their price objective 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. Weiss Ratings downgraded Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Wolfe Research assumed coverage on Krystal Biotech in a research report on Friday, March 27th. They issued a “peer perform” rating for the company. Wall Street Zen downgraded Krystal Biotech from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Evercore reaffirmed an “outperform” rating and set a $300.00 price target on shares of Krystal Biotech in a research report on Tuesday, May 5th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Krystal Biotech currently has an average rating of “Moderate Buy” and an average target price of $340.56.

Insider Activity

In other Krystal Biotech news, insider Suma Krishnan sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was 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 of the company’s stock, valued at $424,623,337.05. This represents a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 of the company’s stock, valued at $347,270. The trade was a 50.00% 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 sold a total of 26,642 shares of company stock worth $8,243,923 in the last 90 days. 13.10% of the stock is currently owned by 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.