Krystal Biotech (NASDAQ:KRYS) Shares Gap Down After Earnings Miss

Krystal Biotech, Inc. (NASDAQ:KRYS)’s share price 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 analysts’ consensus estimates 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. The company’s quarterly revenue was up 452400.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.76) EPS.

Wall Street Analysts Forecast Growth

KRYS has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $200.00 price objective on shares of Krystal Biotech in a research note on Monday. Stifel Nicolaus reiterated a “buy” rating and issued a $204.00 target price (up from $178.00) on shares of Krystal Biotech in a research note on Tuesday, April 16th. Guggenheim boosted their target price on shares of Krystal Biotech from $130.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. William Blair reiterated an “outperform” rating on shares of Krystal Biotech in a research note on Tuesday, February 27th. Finally, Citigroup increased their target price on Krystal Biotech from $160.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $171.00.

Insiders Place Their Bets

In related news, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction dated Monday, March 11th. The shares were 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 directly owns 1,550,882 shares of the company’s stock, valued at approximately $265,138,786.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Suma Krishnan sold 25,000 shares of the stock in a transaction on 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 sale, the insider now owns 1,550,882 shares in the company, valued at $265,138,786.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kathryn Romano sold 8,087 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $136.91, for a total transaction of $1,107,191.17. Following the sale, the chief accounting officer now directly owns 12,556 shares in the company, valued at approximately $1,719,041.96. The disclosure for this sale can be found here. Insiders sold 38,087 shares of company stock worth $6,210,591 over the last three months. 14.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Krystal Biotech

Several large investors have recently modified their holdings of KRYS. Commonwealth Equity Services LLC boosted its stake in Krystal Biotech by 2.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,426 shares of the company’s stock worth $513,000 after purchasing an additional 110 shares during the period. Principal Financial Group Inc. lifted its stake in Krystal Biotech by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,959 shares of the company’s stock valued at $1,060,000 after acquiring an additional 160 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Krystal Biotech by 10.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,007 shares of the company’s stock worth $349,000 after acquiring an additional 283 shares during the last quarter. Swiss National Bank grew its stake in shares of Krystal Biotech by 0.8% during the 1st quarter. Swiss National Bank now owns 36,200 shares of the company’s stock worth $6,441,000 after acquiring an additional 300 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Krystal Biotech by 2.8% in the third quarter. Deutsche Bank AG now owns 13,499 shares of the company’s stock valued at $1,566,000 after purchasing an additional 365 shares during the last quarter. 86.29% of the stock is currently owned by institutional investors.

Krystal Biotech Price Performance

The stock’s 50-day moving average price is $168.87 and its 200 day moving average price is $134.11. The firm has a market cap of $4.61 billion, a P/E ratio of 2,022.25 and a beta of 0.91.

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).