Bank of New York Mellon Corp Decreases Stock Holdings in Krystal Biotech, Inc. $KRYS

Bank of New York Mellon Corp decreased its stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,307 shares of the company’s stock after selling 2,006 shares during the period. Bank of New York Mellon Corp owned about 0.51% of Krystal Biotech worth $38,569,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund boosted its stake in shares of Krystal Biotech by 11.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 14,151 shares of the company’s stock worth $3,655,000 after buying an additional 1,452 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Krystal Biotech during the first quarter valued at $1,558,000. Archer Investment Corp bought a new position in Krystal Biotech in the first quarter valued at about $189,000. Fifth Third Bancorp lifted its holdings in Krystal Biotech by 3,958.2% in the first quarter. Fifth Third Bancorp now owns 5,925 shares of the company’s stock valued at $1,531,000 after acquiring an additional 5,779 shares during the period. Finally, Torray Investment Partners LLC lifted its holdings in Krystal Biotech by 0.4% in the first quarter. Torray Investment Partners LLC now owns 12,032 shares of the company’s stock valued at $3,108,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 86.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on KRYS. Bank of America boosted their price target on Krystal Biotech from $364.00 to $396.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Citigroup increased their price objective on shares of Krystal Biotech from $371.00 to $378.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. TD Cowen boosted 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. Finally, Wall Street Zen cut shares of Krystal Biotech from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Krystal Biotech presently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Insider Buying and Selling at Krystal Biotech

In other Krystal Biotech news, insider Suma Krishnan sold 25,000 shares of the firm’s 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 sale, 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Charles Thomas sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $347.27, for a total value of $347,270.00. Following the completion of the transaction, the executive vice president owned 1,000 shares in the company, valued at $347,270. The trade was a 50.00% 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 sold a total of 26,642 shares of company stock valued at $8,243,923 in the last ninety days. 13.10% of the stock is currently owned by insiders.

Krystal Biotech Stock Up 2.3%

NASDAQ KRYS opened at $335.19 on Friday. Krystal Biotech, Inc. has a 52 week low of $130.50 and a 52 week high of $382.54. The company has a market capitalization of $9.88 billion, a P/E ratio of 44.81 and a beta of 0.50. The stock’s 50-day moving average price is $333.77 and its 200-day moving average price is $292.52.

Krystal Biotech (NASDAQ:KRYS) last announced its quarterly earnings data 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. The company had revenue of $116.36 million during the quarter, compared to the consensus estimate of $112.11 million. Krystal Biotech had a return on equity of 19.25% and a net margin of 53.92%. Research analysts anticipate that Krystal Biotech, Inc. will post 7.31 EPS for the current year.

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.