Alps Advisors Inc. Decreases Stock Holdings in Krystal Biotech, Inc. $KRYS

Alps Advisors Inc. cut its stake in Krystal Biotech, Inc. (NASDAQ:KRYS) by 23.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,367 shares of the company’s stock after selling 4,095 shares during the period. Alps Advisors Inc.’s holdings in Krystal Biotech were worth $2,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Krystal Biotech by 10.5% in the 2nd quarter. State Street Corp now owns 1,355,346 shares of the company’s stock worth $186,306,000 after acquiring an additional 128,639 shares during the period. Soleus Capital Management L.P. grew its holdings in Krystal Biotech by 108.9% in the second quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company’s stock valued at $126,870,000 after purchasing an additional 481,200 shares during the last quarter. Braidwell LP increased its position in shares of Krystal Biotech by 81.6% in the second quarter. Braidwell LP now owns 727,811 shares of the company’s stock valued at $100,045,000 after buying an additional 327,067 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Krystal Biotech by 1.2% in the second quarter. Geode Capital Management LLC now owns 619,547 shares of the company’s stock valued at $85,174,000 after buying an additional 7,194 shares in the last quarter. Finally, Hood River Capital Management LLC raised its stake in shares of Krystal Biotech by 1.6% during the 2nd quarter. Hood River Capital Management LLC now owns 533,023 shares of the company’s stock worth $73,269,000 after buying an additional 8,379 shares during the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Suma Krishnan sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $220.16, for a total transaction of $5,504,000.00. Following the completion of the transaction, the insider owned 1,413,711 shares of the company’s stock, valued at $311,242,613.76. This represents a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on KRYS. Citigroup increased their price objective on shares of Krystal Biotech from $320.00 to $336.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Krystal Biotech in a report on Monday, December 29th. TD Cowen restated a “buy” rating on shares of Krystal Biotech in a research report on Friday, January 9th. Guggenheim set a $224.00 target price on Krystal Biotech and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $310.00 target price (up previously from $240.00) on shares of Krystal Biotech in a report on Friday, January 9th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Krystal Biotech presently has a consensus rating of “Moderate Buy” and an average price target of $277.89.

Krystal Biotech Stock Down 0.7%

KRYS stock opened at $270.70 on Wednesday. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 40.58 and a beta of 0.49. Krystal Biotech, Inc. has a 52-week low of $122.80 and a 52-week high of $295.98. The stock’s fifty day simple moving average is $259.14 and its 200-day simple moving average is $203.54.

Krystal Biotech Profile

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.