Franklin Resources Inc. Increases Stake in Krystal Biotech, Inc.

Franklin Resources Inc. has significantly increased its investment in Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) by 34.2% during the third quarter, as indicated in its recent Form 13F submission to the Securities and Exchange Commission. Following this acquisition, the institutional investor now holds 243,760 shares of Krystal Biotech, after adding 62,178 shares during the period. This investment represents approximately 0.85% of Krystal Biotech, with a total value of around $43,774,000 as per the latest SEC report.

A variety of other major investors have also made adjustments to their holdings in KRYS. Key Financial Inc. established a new position in Krystal Biotech in the second quarter, investing $28,000. Meanwhile, Blue Trust Inc. notably raised its stake by 2,328.6% during the same quarter, accumulating a total of 170 shares worth $30,000 after acquiring an additional 163 shares. Wilmington Savings Fund Society FSB and Values First Advisors Inc. purchased new stakes worth $40,000 and $53,000, respectively, in the third quarter. Moreover, Quest Partners LLC also entered the scene with a new stake valued at $71,000 during the second quarter. Currently, institutional investors and hedge funds own 86.29% of Krystal Biotech’s stock.

Review of Krystal Biotech's Stock Performance

On Wednesday, NASDAQ:KRYS opened at $169.04. The company boasts a market capitalization of $4.86 billion, a price-to-earnings ratio of 95.50, and a beta of 0.80. Recently, the business has a fifty-day moving average of $181.01 and a two-hundred-day moving average of $185.37. Over the past year, Krystal Biotech's stock has experienced a low of $107.50 and a high of $219.34.

In its latest financial release, Krystal Biotech announced quarterly earnings on November 4th, revealing earnings per share (EPS) of $0.91, exceeding analyst estimates of $0.84 by $0.07. The company reported a net margin of 21.68% and a return on equity of 7.54%. For the quarter, revenue stood at $83.84 million, surpassing the anticipated $82.94 million. This figure represents an impressive year-over-year growth of 879.9%, as Krystal Biotech registered a loss of ($0.67) EPS during the same quarter last year. Analysts predict that Krystal Biotech, Inc. will record an EPS of 2.97 for the current fiscal year.

Insights on Insider Transactions

Recent insider trading activity has also been notable. On December 13th, insider Suma Krishnan sold 25,000 shares of Krystal Biotech. This transaction occurred at an average price of $164.78, amounting to a total of $4,119,500. Following this sale, Krishnan retained ownership of 1,475,882 shares, valued at approximately $243,195,835.96, reflecting a 1.67% decrease in their holdings. The transaction was publicly disclosed in a filing with the SEC, and it's worth mentioning that insiders currently maintain a 14.10% stake in the company.

Wall Street Analysts Update Forecasts

Analysts have provided updated perspectives on Krystal Biotech's stock lately. Citigroup raised its price target from $204.00 to $206.00 while maintaining a “neutral” rating in a report on November 5th. HC Wainwright confirmed a “buy” rating and set a target price of $221.00 for Krystal Biotech shares on December 10th. Cantor Fitzgerald also reaffirmed an “overweight” rating in a report released on August 29th. William Blair categorized the stock as a “strong buy” on August 30th, while Chardan Capital reiterated a “buy” rating with a target price of $212.00 on December 12th. Currently, one research analyst rates Krystal Biotech stock with a hold, six analysts with a buy rating, and one with a strong buy rating. According to MarketBeat data, it holds a consensus rating of “Buy” and a mean target price of $206.67.

About Krystal Biotech

Krystal Biotech, Inc. is a commercial-stage biotechnology enterprise focusing on the discovery, development, and commercialization of genetic therapies targeted at patients with rare diseases in the United States. The company is known for marketing VYJUVEK (beremagene geperpavec-svdt, or B-VEC), a treatment specifically for dystrophic epidermolysis bullosa (DEB).

investment, stocks, finance