Norges Bank Invests $70.16 Million in Krystal Biotech, Inc. $KRYS

Norges Bank bought a new position in Krystal Biotech, Inc. (NASDAQ:KRYS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 284,573 shares of the company’s stock, valued at approximately $70,159,000.

Other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC raised its position in shares of Krystal Biotech by 1,270.0% in the 4th quarter. Sound Income Strategies LLC now owns 137 shares of the company’s stock worth $34,000 after acquiring an additional 127 shares in the last quarter. Bessemer Group Inc. increased its position in Krystal Biotech by 106.9% during the 3rd quarter. Bessemer Group Inc. now owns 149 shares of the company’s stock valued at $26,000 after buying an additional 77 shares in the last quarter. Global Retirement Partners LLC increased its position in Krystal Biotech by 788.9% during the 4th quarter. Global Retirement Partners LLC now owns 160 shares of the company’s stock valued at $39,000 after buying an additional 142 shares in the last quarter. Danske Bank A S bought a new position in Krystal Biotech during the 3rd quarter valued at approximately $35,000. Finally, SBI Securities Co. Ltd. increased its position in Krystal Biotech by 197.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 202 shares of the company’s stock valued at $50,000 after buying an additional 134 shares in the last quarter. Institutional investors own 86.29% of the company’s stock.

Krystal Biotech Trading Down 2.2%

Shares of KRYS opened at $301.00 on Friday. The business’s fifty day simple moving average is $282.39 and its two-hundred day simple moving average is $264.19. Krystal Biotech, Inc. has a 12 month low of $127.99 and a 12 month high of $319.48. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 40.24 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS) last issued its earnings results on Monday, May 4th. The company reported $1.83 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $112.11 million. As a group, research analysts forecast that Krystal Biotech, Inc. will post 7.83 EPS for the current year.

Insider Buying and Selling at Krystal Biotech

In other Krystal Biotech news, insider Suma Krishnan sold 25,000 shares of the stock in a transaction on 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 in the company, valued at approximately $424,623,337.05. This trade represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 642 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $302.03, for a total value of $193,903.26. 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. Company insiders own 13.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KRYS shares. Guggenheim raised their price objective on Krystal Biotech from $224.00 to $284.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Evercore reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Krystal Biotech in a research report on Tuesday, May 5th. Chardan Capital raised their price objective on Krystal Biotech from $220.00 to $323.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Wolfe Research started coverage on Krystal Biotech in a research report on Friday, March 27th. They set a “peer perform” rating for the company. Finally, Weiss Ratings raised Krystal Biotech from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 9th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Krystal Biotech has an average rating of “Moderate Buy” and an average price target of $324.11.

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.