Krystal Biotech (NASDAQ:KRYS) Shares Gap Down – What’s Next?

Krystal Biotech, Inc. (NASDAQ:KRYS) gapped down before the market opened on Monday . The stock had previously closed at $341.12, but opened at $320.70. Krystal Biotech shares last traded at $315.6780, with a volume of 155,203 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on KRYS. Citigroup raised their price objective on shares of Krystal Biotech from $371.00 to $378.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Jefferies Financial Group reissued a “buy” rating and issued a $474.00 target price on shares of Krystal Biotech in a research report on Monday, July 13th. Bank of America raised their target price on Krystal Biotech from $364.00 to $396.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings lowered Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Finally, Evercore reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Krystal Biotech in a research note on Tuesday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $360.67.

Krystal Biotech Stock Performance

The stock has a 50-day moving average of $339.70 and a two-hundred day moving average of $296.45. The company has a market cap of $8.85 billion, a P/E ratio of 39.85 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS) last released its earnings results on Monday, August 3rd. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. Krystal Biotech had a return on equity of 19.25% and a net margin of 53.92%.The firm had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $121.81 million. Research analysts predict that Krystal Biotech, Inc. will post 7.31 EPS for the current year.

Insider Activity

In other Krystal Biotech news, EVP John Charles Thomas sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $347.27, for a total transaction of $347,270.00. Following the completion of the sale, the executive vice president directly owned 1,000 shares in the company, valued at approximately $347,270. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Krystal Biotech stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $308.11, for a total transaction of $7,702,750.00. Following the completion of the transaction, the insider directly owned 1,378,155 shares of the company’s stock, valued at $424,623,337.05. This trade represents a 1.78% 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. Insiders have sold a total of 26,642 shares of company stock worth $8,243,923 over the last three months. 13.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Krystal Biotech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB raised its stake in shares of Krystal Biotech by 58.4% in the fourth quarter. Handelsbanken Fonder AB now owns 105,800 shares of the company’s stock worth $26,084,000 after purchasing an additional 39,000 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Krystal Biotech during the fourth quarter valued at $933,000. Principal Financial Group Inc. boosted its position in shares of Krystal Biotech by 15.6% during the fourth quarter. Principal Financial Group Inc. now owns 165,074 shares of the company’s stock valued at $40,697,000 after buying an additional 22,231 shares during the last quarter. Biondo Investment Advisors LLC increased its holdings in Krystal Biotech by 31.3% in the 4th quarter. Biondo Investment Advisors LLC now owns 68,130 shares of the company’s stock worth $16,797,000 after buying an additional 16,245 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Krystal Biotech by 350.0% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 9,000 shares of the company’s stock worth $2,219,000 after buying an additional 7,000 shares during the last quarter. 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.