Krystal Biotech (NASDAQ:KRYS) Sets New 52-Week High – What’s Next?

Krystal Biotech, Inc. (NASDAQ:KRYS) reached a new 52-week high on Wednesday . The company traded as high as $319.60 and last traded at $315.5830, with a volume of 71079 shares traded. The stock had previously closed at $309.75.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KRYS shares. Wolfe Research started coverage on Krystal Biotech in a research note on Friday, March 27th. They set a “peer perform” rating on the stock. Guggenheim boosted their price objective on Krystal Biotech from $224.00 to $284.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Jefferies Financial Group boosted their price objective on Krystal Biotech from $310.00 to $371.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Weiss Ratings raised Krystal Biotech from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 9th. Finally, Wall Street Zen raised Krystal Biotech from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.11.

Krystal Biotech Stock Up 2.9%

The company has a market cap of $9.48 billion, a PE ratio of 42.99 and a beta of 0.53. The stock has a 50-day simple moving average of $287.26 and a 200 day simple moving average of $267.54.

Krystal Biotech (NASDAQ:KRYS) last posted 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 return on equity of 19.25% and a net margin of 53.92%.The company had revenue of $116.36 million for the quarter, compared to the consensus estimate of $112.11 million. As a group, research analysts anticipate that Krystal Biotech, Inc. will post 7.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Krystal Biotech news, EVP John Charles Thomas sold 642 shares of Krystal Biotech stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $302.03, for a total value of $193,903.26. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction on Thursday, June 4th. The shares were 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 in the company, valued at $424,623,337.05. This represents a 1.78% decrease in their position. 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

Several institutional investors and hedge funds have recently modified their holdings of KRYS. Soleus Capital Management L.P. raised its holdings in shares of Krystal Biotech by 108.9% in the 2nd quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company’s stock valued at $126,870,000 after buying an additional 481,200 shares during the period. Norges Bank purchased a new stake in shares of Krystal Biotech in the 4th quarter valued at $70,159,000. William Blair Investment Management LLC raised its holdings in shares of Krystal Biotech by 152.1% in the 4th quarter. William Blair Investment Management LLC now owns 376,340 shares of the company’s stock valued at $92,783,000 after buying an additional 227,038 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Krystal Biotech by 2,078.9% in the 4th quarter. Janus Henderson Group PLC now owns 219,440 shares of the company’s stock valued at $54,147,000 after buying an additional 209,369 shares during the period. Finally, UBS Group AG raised its holdings in shares of Krystal Biotech by 970.8% in the 4th quarter. UBS Group AG now owns 159,595 shares of the company’s stock valued at $39,347,000 after buying an additional 177,922 shares during the period. Hedge funds and other institutional investors own 86.29% of the company’s stock.

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.