Krystal Biotech (NASDAQ:KRYS) Stock Rating Lowered by Zacks Research

Krystal Biotech (NASDAQ:KRYS) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Krystal Biotech in a research report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and issued a $310.00 price target (up from $240.00) on shares of Krystal Biotech in a research report on Friday, January 9th. Chardan Capital upped their price target on Krystal Biotech from $216.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Citigroup increased their price objective on Krystal Biotech from $320.00 to $336.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Krystal Biotech in a research report on Friday, January 9th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Krystal Biotech presently has an average rating of “Moderate Buy” and a consensus target price of $277.89.

Krystal Biotech Trading Up 1.9%

NASDAQ:KRYS opened at $272.74 on Thursday. The firm has a market capitalization of $7.91 billion, a PE ratio of 40.89 and a beta of 0.49. Krystal Biotech has a 1 year low of $122.80 and a 1 year high of $295.98. The firm’s fifty day simple moving average is $256.88 and its 200 day simple moving average is $201.13.

Insider Buying and Selling

In related news, insider Suma Krishnan sold 25,000 shares of the firm’s 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 completion of the transaction, the insider directly owned 1,413,711 shares of the company’s stock, valued at $311,242,613.76. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Krystal Biotech

Hedge funds and other institutional investors have recently made changes to their positions in the business. Edgestream Partners L.P. acquired a new stake in shares of Krystal Biotech in the second quarter valued at $2,705,000. EFG Asset Management North America Corp. raised its holdings 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 purchasing an additional 4,217 shares during the last quarter. Voya Investment Management LLC raised its holdings in Krystal Biotech by 46.7% during the 3rd 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 during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Krystal Biotech by 45.2% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 15,033 shares of the company’s stock valued at $2,066,000 after purchasing an additional 4,682 shares during the period. Finally, Norges Bank bought a new position in shares of Krystal Biotech in the 2nd quarter valued at about $38,861,000. 86.29% of the stock is owned by institutional investors.

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.