Krystal Biotech, Inc. $KRYS Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,843 shares of the company’s stock after purchasing an additional 1,960 shares during the period. Principal Financial Group Inc.’s holdings in Krystal Biotech were worth $25,216,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Edgestream Partners L.P. purchased a new position in Krystal Biotech in the second quarter worth approximately $2,705,000. EFG Asset Management North America Corp. raised its stake in Krystal Biotech by 18.4% during the 3rd quarter. EFG Asset Management North America Corp. now owns 27,095 shares of the company’s stock worth $4,784,000 after acquiring an additional 4,217 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Krystal Biotech by 46.7% during the third quarter. Voya Investment Management LLC now owns 93,908 shares of the company’s stock worth $16,578,000 after purchasing an additional 29,915 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Krystal Biotech by 45.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 15,033 shares of the company’s stock worth $2,066,000 after buying an additional 4,682 shares during the period. Finally, Norges Bank acquired a new position in shares of Krystal Biotech in the 2nd quarter valued at $38,861,000. Institutional investors and hedge funds own 86.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on KRYS. TD Cowen reissued a “buy” rating on shares of Krystal Biotech in a report on Friday, January 9th. Guggenheim set a $224.00 price objective on shares of Krystal Biotech and gave the stock a “buy” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Krystal Biotech in a research report on Monday, December 29th. Bank of America upped their price target on shares of Krystal Biotech from $288.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Zacks Research downgraded Krystal Biotech from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $277.89.

Insider Buying and Selling at Krystal Biotech

In related news, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $220.16, for a total value of $5,504,000.00. Following the transaction, the insider owned 1,413,711 shares in the company, valued at approximately $311,242,613.76. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.70% of the company’s stock.

Krystal Biotech Stock Up 1.9%

NASDAQ:KRYS opened at $272.74 on Friday. The company has a market cap of $7.91 billion, a P/E ratio of 40.89 and a beta of 0.49. The firm’s 50 day moving average is $256.88 and its two-hundred day moving average is $201.48. Krystal Biotech, Inc. has a fifty-two week low of $122.80 and a fifty-two week high of $295.98.

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.