Bank of New York Mellon Corp Lowers Position in Krystal Biotech, Inc. $KRYS

Bank of New York Mellon Corp decreased its stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) by 1.3% in the first quarter, Holdings Channel.com reports. The fund owned 149,307 shares of the company’s stock after selling 2,006 shares during the period. Bank of New York Mellon Corp’s holdings in Krystal Biotech were worth $38,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Krystal Biotech by 145.2% in the 1st quarter. Royal Bank of Canada now owns 1,628 shares of the company’s stock valued at $294,000 after acquiring an additional 964 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Krystal Biotech by 29.9% during the first quarter. AQR Capital Management LLC now owns 12,131 shares of the company’s stock valued at $2,187,000 after purchasing an additional 2,792 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Krystal Biotech by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,893 shares of the company’s stock worth $2,870,000 after purchasing an additional 688 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Krystal Biotech in the first quarter worth about $218,000. Finally, Cetera Investment Advisers lifted its position in shares of Krystal Biotech by 107.9% in the second 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. Institutional investors own 86.29% of the company’s stock.

Insider Buying and Selling at Krystal Biotech

In related news, EVP John Charles Thomas sold 1,000 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $347.27, for a total transaction of $347,270.00. Following the sale, the executive vice president owned 1,000 shares in the company, valued at approximately $347,270. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suma Krishnan sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $308.11, for a total value of $7,702,750.00. Following the completion of the sale, the insider owned 1,378,155 shares of the company’s stock, valued at approximately $424,623,337.05. This represents a 1.78% 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 have 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.

Krystal Biotech Price Performance

Shares of KRYS stock opened at $335.19 on Friday. Krystal Biotech, Inc. has a 1 year low of $130.50 and a 1 year high of $382.54. The stock’s 50 day simple moving average is $333.77 and its two-hundred day simple moving average is $292.52. The company has a market cap of $9.88 billion, a PE ratio of 44.81 and a beta of 0.50.

Krystal Biotech (NASDAQ:KRYS) last posted its quarterly earnings data on Monday, May 4th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.38. The business had revenue of $116.36 million during the quarter, compared to analyst estimates of $112.11 million. Krystal Biotech had a return on equity of 19.25% and a net margin of 53.92%. Equities research analysts expect that Krystal Biotech, Inc. will post 7.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KRYS. Jefferies Financial Group reissued a “buy” rating and set a $474.00 price target on shares of Krystal Biotech in a research note on Monday, July 13th. Citigroup lifted their price objective on Krystal Biotech from $371.00 to $378.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Wall Street Zen cut Krystal Biotech from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. HC Wainwright increased their target price on Krystal Biotech from $310.00 to $361.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Finally, Weiss Ratings lowered shares of Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.