Krystal Biotech (NASDAQ:KRYS) Shares Gap Down Following Weak Earnings

Krystal Biotech, Inc. (NASDAQ:KRYS) shares gapped down prior to trading on Monday following a weaker than expected earnings announcement. The stock had previously closed at $161.10, but opened at $145.50. Krystal Biotech shares last traded at $156.83, with a volume of 263,735 shares trading hands.

The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.17). The firm had revenue of $45.25 million for the quarter, compared to analyst estimates of $47.37 million. Krystal Biotech’s revenue was up 452400.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.76) EPS.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KRYS shares. HC Wainwright restated a “buy” rating and set a $200.00 target price on shares of Krystal Biotech in a research note on Monday. Stifel Nicolaus restated a “buy” rating and set a $204.00 target price (up previously from $178.00) on shares of Krystal Biotech in a research report on Tuesday, April 16th. Citigroup boosted their price target on Krystal Biotech from $160.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. William Blair reiterated an “outperform” rating on shares of Krystal Biotech in a research report on Tuesday, February 27th. Finally, Guggenheim lifted their target price on Krystal Biotech from $130.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $171.00.

Insider Buying and Selling

In other news, CAO Kathryn Romano sold 5,000 shares of Krystal Biotech stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $165.88, for a total transaction of $829,400.00. Following the sale, the chief accounting officer now owns 12,936 shares in the company, valued at $2,145,823.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Krystal Biotech news, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $170.96, for a total transaction of $4,274,000.00. Following the completion of the transaction, the insider now owns 1,550,882 shares in the company, valued at approximately $265,138,786.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kathryn Romano sold 5,000 shares of Krystal Biotech stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $165.88, for a total transaction of $829,400.00. Following the sale, the chief accounting officer now directly owns 12,936 shares of the company’s stock, valued at $2,145,823.68. The disclosure for this sale can be found here. Insiders sold 38,087 shares of company stock valued at $6,210,591 over the last 90 days. Corporate insiders own 14.10% of the company’s stock.

Hedge Funds Weigh In On Krystal Biotech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in Krystal Biotech by 2.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,426 shares of the company’s stock valued at $513,000 after buying an additional 110 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Krystal Biotech by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 98,220 shares of the company’s stock worth $11,394,000 after purchasing an additional 1,604 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Krystal Biotech by 11.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,487 shares of the company’s stock valued at $520,000 after buying an additional 452 shares during the last quarter. Strs Ohio increased its holdings in shares of Krystal Biotech by 120.7% in the 3rd quarter. Strs Ohio now owns 6,400 shares of the company’s stock valued at $742,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Krystal Biotech by 4.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,515 shares of the company’s stock valued at $1,452,000 after buying an additional 566 shares in the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.

Krystal Biotech Stock Down 2.0 %

The company has a market cap of $4.52 billion, a PE ratio of 2,022.25 and a beta of 0.91. The stock’s 50 day simple moving average is $168.87 and its two-hundred day simple moving average is $134.11.

About Krystal Biotech

Krystal Biotech, Inc, a commercial-stage biotechnology company, discovers, develops, and commercializes genetic medicines for patients with rare diseases in the United States. It commercializes VYJUVEK (beremagene geperpavec-svdt, or B-VEC) for the treatment of dystrophic epidermolysis bullosa (DEB).