Krystal Biotech (NASDAQ:KRYS) Cut to Hold at Zacks Research

Zacks Research lowered shares of Krystal Biotech (NASDAQ:KRYS) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

KRYS has been the subject of several other research reports. Guggenheim set a $224.00 price target on shares of Krystal Biotech and gave the stock a “buy” rating in a research report on Friday, October 17th. Citigroup lifted their target price on shares of Krystal Biotech from $320.00 to $336.00 and gave the stock a “buy” rating in a report on Monday, January 12th. HC Wainwright reissued a “buy” rating and issued a $310.00 price target (up previously from $240.00) on shares of Krystal Biotech in a research note on Friday, January 9th. Chardan Capital lifted their price objective on Krystal Biotech from $216.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Krystal Biotech in a research note on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.89.

Krystal Biotech Stock Up 1.9%

KRYS stock opened at $272.74 on Thursday. Krystal Biotech has a twelve month low of $122.80 and a twelve month high of $295.98. The company has a market cap of $7.91 billion, a P/E ratio of 40.89 and a beta of 0.49. The business has a fifty day moving average of $256.88 and a 200-day moving average of $201.48.

Insider Transactions at Krystal Biotech

In other Krystal Biotech news, insider Suma Krishnan sold 25,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 1,413,711 shares in the company, valued at $311,242,613.76. This represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Krystal Biotech

Several institutional investors and hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC lifted its stake in Krystal Biotech by 0.5% in the fourth quarter. Perigon Wealth Management LLC now owns 8,970 shares of the company’s stock valued at $2,211,000 after buying an additional 41 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Krystal Biotech by 2.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 2,124 shares of the company’s stock worth $524,000 after acquiring an additional 55 shares during the period. Sound View Wealth Advisors Group LLC lifted its position in Krystal Biotech by 2.9% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 2,003 shares of the company’s stock valued at $354,000 after acquiring an additional 56 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Krystal Biotech by 1.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,896 shares of the company’s stock worth $1,454,000 after purchasing an additional 57 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Krystal Biotech by 1.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 5,086 shares of the company’s stock worth $1,254,000 after purchasing an additional 61 shares in the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.

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.