Krystal Biotech (NASDAQ:KRYS) Stock Price Down 6.4% – Here’s Why

Krystal Biotech, Inc. (NASDAQ:KRYS)’s stock price dropped 6.4% during mid-day trading on Tuesday . The company traded as low as $345.00 and last traded at $340.2140. 39,718 shares were traded during trading, a decline of 87% from the average session volume of 304,481 shares. The stock had previously closed at $363.44.

Analyst Upgrades and Downgrades

KRYS has been the subject of several research analyst reports. Citigroup increased their price objective on Krystal Biotech from $371.00 to $378.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Wall Street Zen cut shares of Krystal Biotech from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Wolfe Research started coverage on shares of Krystal Biotech in a research report on Friday, March 27th. They issued a “peer perform” rating for the company. Bank of America increased their price target on shares of Krystal Biotech from $364.00 to $396.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings downgraded shares of Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Krystal Biotech presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Krystal Biotech Trading Up 3.2%

The firm has a 50 day simple moving average of $329.49 and a two-hundred day simple moving average of $288.38. The company has a market capitalization of $10.33 billion, a PE ratio of 46.82 and a beta of 0.50.

Krystal Biotech (NASDAQ:KRYS) last released its earnings results on Monday, May 4th. The company reported $1.83 earnings per share (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 business had revenue of $116.36 million for the quarter, compared to analyst estimates of $112.11 million. Research analysts expect that Krystal Biotech, Inc. will post 7.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Krystal Biotech

In other news, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction dated 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 sale, the insider owned 1,378,155 shares of the company’s stock, valued at $424,623,337.05. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Krystal Biotech 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. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders 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 corporate insiders.

Institutional Investors Weigh In On Krystal Biotech

A number of hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its position in Krystal Biotech by 1,270.0% during the 4th quarter. Sound Income Strategies LLC now owns 137 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Krystal Biotech in the 1st quarter valued at approximately $34,000. Greenline Wealth Management LLC purchased a new stake in shares of Krystal Biotech in the fourth quarter valued at approximately $34,000. Danske Bank A S purchased a new stake in shares of Krystal Biotech in the third quarter valued at approximately $35,000. Finally, UMB Bank n.a. grew its holdings in Krystal Biotech by 34.6% during the fourth quarter. UMB Bank n.a. now owns 144 shares of the company’s stock worth $36,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds 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.