Krystal Biotech (NASDAQ:KRYS) Stock Gets Price Target Cut from Citigroup

Krystal Biotech (NASDAQ:KRYS) had its price objective trimmed by Citigroup from $416.00 to $412.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

KRYS has been the subject of several other reports. Zacks Research downgraded Krystal Biotech from a “hold” rating to a “strong sell” rating in a research report on Friday, October 23rd. TD Cowen lowered their target price on Krystal Biotech from $403.00 to $380.00 and set a “buy” rating on the stock in a report on Tuesday. Chardan Capital upgraded Krystal Biotech to a “strong-buy” rating in a research report on Monday, August 3rd. Weiss Ratings raised Krystal Biotech from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Finally, HC Wainwright reiterated a “buy” rating and set a $361.00 price objective on shares of Krystal Biotech in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $375.00.

Krystal Biotech Stock Performance

KRYS opened at $300.25 on Tuesday. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 42.18 and a beta of 0.56. Krystal Biotech has a one year low of $192.52 and a one year high of $382.54. The business’s fifty day moving average is $333.61 and its two-hundred day moving average is $308.99.

Krystal Biotech (NASDAQ:KRYS) last issued its quarterly earnings data on Monday, November 2nd. The company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.26. Krystal Biotech had a net margin of 47.91% and a return on equity of 17.02%. The firm had revenue of $127.34 million for the quarter, compared to analysts’ expectations of $125.77 million. On average, analysts predict that Krystal Biotech will post 7.74 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dino Rossi sold 25,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $329.12, for a total value of $8,228,000.00. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at approximately $16,456,000. This represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Suma Krishnan sold 25,000 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $359.32, for a total value of $8,983,000.00. Following the transaction, the insider owned 1,302,145 shares in the company, valued at $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. 13.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Krystal Biotech

Institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its stake in shares of Krystal Biotech by 1.4% in the 3rd quarter. Fifth Third Bancorp now owns 6,611 shares of the company’s stock valued at $2,199,000 after acquiring an additional 90 shares during the period. New Mexico Educational Retirement Board purchased a new stake in Krystal Biotech during the 3rd quarter worth $1,829,000. Jacobi Capital Management LLC purchased a new stake in Krystal Biotech during the 3rd quarter worth $56,000. New York Life Investment Management LLC increased its holdings in Krystal Biotech by 10.4% in the 3rd quarter. New York Life Investment Management LLC now owns 3,497 shares of the company’s stock valued at $1,163,000 after purchasing an additional 330 shares in the last quarter. Finally, Retirement Systems of Alabama acquired a new stake in Krystal Biotech in the 3rd quarter valued at $9,137,000. 86.29% of the stock is currently owned by hedge funds and other institutional investors.

About Krystal Biotech

Krystal Biotech, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. The company’s platform uses modified herpes simplex virus type 1 vectors to deliver functional genes to target tissues, with an emphasis on therapies that can be administered repeatedly.

Krystal’s lead product, VYJUVEK, is a topical gene therapy for wounds associated with dystrophic epidermolysis bullosa, a rare inherited skin disorder caused by mutations affecting type VII collagen.