Van ECK Associates Corp Invests $6.34 Million in Krystal Biotech, Inc. $KRYS

Van ECK Associates Corp bought a new position in shares of Krystal Biotech, Inc. (NASDAQ:KRYS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 17,071 shares of the company’s stock, valued at approximately $6,345,000.

Several other hedge funds and other institutional investors have also bought and sold shares of KRYS. BlackRock Inc. bought a new stake in Krystal Biotech during the second quarter valued at about $1,554,113,000. Avoro Capital Advisors LLC grew its position in Krystal Biotech by 4.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,888,888 shares of the company’s stock worth $712,226,000 after purchasing an additional 111,111 shares during the last quarter. State Street Corp grew its holdings in shares of Krystal Biotech by 10.5% during the second quarter. State Street Corp now owns 1,355,346 shares of the company’s stock valued at $186,306,000 after buying an additional 128,639 shares during the last quarter. Soleus Capital Management L.P. grew its stake in Krystal Biotech by 108.9% during the 2nd 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. Finally, William Blair Investment Management LLC purchased a new stake in Krystal Biotech in the second quarter valued at approximately $211,909,000. Institutional investors own 86.29% of the company’s stock.

Krystal Biotech Stock Up 1.5%

Shares of KRYS stock opened at $369.23 on Thursday. The stock has a market capitalization of $10.93 billion, a PE ratio of 46.27 and a beta of 0.54. The firm has a 50 day moving average of $349.86 and a two-hundred day moving average of $306.35. Krystal Biotech, Inc. has a 52 week low of $136.73 and a 52 week high of $382.54.

Krystal Biotech (NASDAQ:KRYS) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.09. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%.The company had revenue of $119.22 million for the quarter, compared to the consensus estimate of $120.93 million. Analysts expect that Krystal Biotech, Inc. will post 7.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Chardan Capital raised shares of Krystal Biotech to a “strong-buy” rating in a report on Monday, August 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $474.00 price objective on shares of Krystal Biotech in a report on Monday, July 13th. HC Wainwright raised their target price on Krystal Biotech from $310.00 to $361.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. TD Cowen boosted their price target on shares of Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, Bank of America boosted their price objective on Krystal Biotech from $364.00 to $396.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $365.40.

Insiders Place Their Bets

In other Krystal Biotech news, Director Dino A. Rossi sold 25,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $329.12, for a total value of $8,228,000.00. Following the transaction, the director directly owned 50,000 shares in the company, valued at $16,456,000. This represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Charles Thomas sold 1,000 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $347.27, for a total transaction of $347,270.00. Following the completion of the transaction, the executive vice president directly owned 1,000 shares in the company, valued at $347,270. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 13.10% of the company’s stock.

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.