Krystal Biotech (NASDAQ:KRYS) Reaches New 1-Year High – Time to Buy?

Krystal Biotech, Inc. (NASDAQ:KRYS) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $358.45 and last traded at $360.93, with a volume of 67579 shares changing hands. The stock had previously closed at $347.63.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KRYS. Evercore reissued an “outperform” rating and set a $300.00 price objective on shares of Krystal Biotech in a report on Tuesday, May 5th. Citigroup raised their target price on shares of Krystal Biotech from $371.00 to $378.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. TD Cowen lifted their target price on shares of Krystal Biotech from $306.00 to $403.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Wall Street Zen cut shares of Krystal Biotech from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, HC Wainwright increased their price target on shares of Krystal Biotech from $310.00 to $361.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.56.

Krystal Biotech Stock Up 3.4%

The firm’s 50-day simple moving average is $304.72 and its 200-day simple moving average is $276.69. The firm has a market capitalization of $10.97 billion, a PE ratio of 49.77 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS) last released its quarterly earnings data on Monday, May 4th. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.45 by $0.38. Krystal Biotech had a return on equity of 19.25% and a net margin of 53.92%.The firm had revenue of $116.36 million for the quarter, compared to the consensus estimate of $112.11 million. On average, equities research analysts forecast that Krystal Biotech, Inc. will post 7.66 earnings per share for the current year.

Insider Activity at Krystal Biotech

In other Krystal Biotech news, insider Suma Krishnan sold 25,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $424,623,337.05. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Charles Thomas sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $347.27, for a total value of $347,270.00. Following the sale, the executive vice president directly owned 1,000 shares of the company’s stock, valued at approximately $347,270. This trade represents a 50.00% 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. Over the last 90 days, insiders have sold 26,642 shares of company stock worth $8,243,923. 13.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its position in Krystal Biotech by 145.2% during the 1st quarter. Royal Bank of Canada now owns 1,628 shares of the company’s stock valued at $294,000 after buying an additional 964 shares during the period. AQR Capital Management LLC grew its holdings in Krystal Biotech by 29.9% in the 1st quarter. AQR Capital Management LLC now owns 12,131 shares of the company’s stock worth $2,187,000 after acquiring an additional 2,792 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $2,870,000 after acquiring an additional 688 shares during the period. Empowered Funds LLC purchased a new position in shares of Krystal Biotech in the first quarter valued at about $218,000. Finally, Cetera Investment Advisers raised its stake in shares of Krystal Biotech by 107.9% during the second quarter. Cetera Investment Advisers now owns 4,344 shares of the company’s stock valued at $597,000 after acquiring an additional 2,255 shares during the last quarter. 86.29% of the stock is owned by hedge funds and other 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.