Krystal Biotech, Inc. (NASDAQ:KRYS) Sees Large Increase in Short Interest

Krystal Biotech, Inc. (NASDAQ:KRYS) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,100,000 shares, an increase of 7.1% from the October 15th total of 1,960,000 shares. Based on an average daily volume of 296,000 shares, the days-to-cover ratio is currently 7.1 days.

Analysts Set New Price Targets

Several brokerages have issued reports on KRYS. Chardan Capital upped their target price on Krystal Biotech from $148.00 to $153.00 and gave the company a “buy” rating in a report on Monday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Krystal Biotech in a research note on Tuesday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $139.00 price target on shares of Krystal Biotech in a research report on Monday, August 7th. Berenberg Bank initiated coverage on Krystal Biotech in a report on Thursday, September 7th. They issued a “buy” rating and a $154.00 price objective on the stock. Finally, Citigroup initiated coverage on Krystal Biotech in a research note on Thursday, October 12th. They set a “buy” rating and a $160.00 target price for the company. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $142.56.

Krystal Biotech Stock Performance

Shares of KRYS traded up $5.78 during midday trading on Friday, hitting $104.12. 265,746 shares of the stock were exchanged, compared to its average volume of 268,633. Krystal Biotech has a 52-week low of $69.81 and a 52-week high of $132.68. The stock has a fifty day simple moving average of $113.79 and a 200 day simple moving average of $115.75. The firm has a market cap of $2.94 billion, a P/E ratio of -70.33 and a beta of 0.94.

Krystal Biotech (NASDAQ:KRYS) last released its earnings results on Monday, November 6th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of ($1.10) by $3.89. The firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $6.29 million. The business’s revenue was up 8500.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.17) earnings per share. As a group, equities research analysts forecast that Krystal Biotech will post -3.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Suma Krishnan sold 25,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $127.23, for a total transaction of $3,180,750.00. Following the completion of the sale, the insider now owns 1,599,206 shares of the company’s stock, valued at approximately $203,466,979.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 17.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Krystal Biotech

Institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in Krystal Biotech by 50.0% in the second quarter. PNC Financial Services Group Inc. now owns 372 shares of the company’s stock valued at $44,000 after purchasing an additional 124 shares during the period. Osaic Holdings Inc. grew its position in shares of Krystal Biotech by 193.3% during the second quarter. Osaic Holdings Inc. now owns 396 shares of the company’s stock worth $46,000 after buying an additional 261 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Krystal Biotech by 52.4% during the second quarter. Lazard Asset Management LLC now owns 713 shares of the company’s stock worth $82,000 after buying an additional 245 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Krystal Biotech by 111.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 718 shares of the company’s stock worth $83,000 after buying an additional 379 shares during the period. Finally, Covestor Ltd raised its holdings in Krystal Biotech by 36,200.0% in the second quarter. Covestor Ltd now owns 726 shares of the company’s stock valued at $85,000 after acquiring an additional 724 shares in the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

About Krystal Biotech

Krystal Biotech, Inc, a biotechnology company, develops and commercializes genetic medicines for patients with rare diseases in the United States. It develops beremagene geperpavec (B-VEC) for dystrophic epidermolysis bullosa; KB105 for treating patients with deficient autosomal recessive congenital ichthyosis; KB104 for netherton syndrome; and KB407 for Cystic Fibrosis.