Crispr Therapeutics shares tumble after significant earnings miss
Krish S. Krishnan, President and CEO of Krystal Biotech , Inc. (NASDAQ:KRYS), a biotechnology company with a market capitalization of $5.1 billion and impressive gross profit margins of 93%, has sold shares worth approximately $8.89 million, according to a recent SEC filing. InvestingPro analysis shows the company maintains a "GREAT" financial health score of 3.72 out of 5. The transactions, executed on March 13, involved multiple sales of common stock at prices ranging from $175.83 to $179.57 per share.
The sales were conducted under a pre-arranged trading plan, allowing Krishnan to sell shares at regular intervals. The transactions included the disposal of 1,100 shares at an average price of $175.83, 4,944 shares at $176.80, 10,931 shares at $177.62, 6,769 shares at $178.77, and 1,256 shares at $179.57. Post-transaction, Krishnan retains direct ownership of 1,533,056 shares.
Additionally, shares held indirectly through family trusts and by Krishnan’s spouse were also part of the sales, adhering to similar pre-planned strategies. Despite these sales, Krishnan maintains a significant stake in the company, with indirect holdings remaining robust.
In other recent news, Krystal Biotech announced its fourth-quarter 2024 financial results, reporting earnings per share (EPS) of $1.52, which exceeded the forecast of $1.21. However, the company’s revenue slightly missed expectations, coming in at $91.1 million compared to the anticipated $91.63 million. Despite this, Krystal Biotech’s lead product, VYJUVEK, achieved total revenue of $290.5 million for the year, underscoring its strong market performance. The company ended 2024 with a solid financial standing, holding $749.6 million in cash and investments. Analysts from H.C. Wainwright maintained a Buy rating on Krystal Biotech, with a price target of $221, expressing confidence in the company’s growth prospects.
Additionally, Krystal Biotech received a favorable opinion from the Committee for Medicinal Products for Human Use (CHMP) regarding the European approval of VYJUVEK, with a final decision from the European Commission expected in the second quarter of 2025. The European launch plans include an initial rollout in Germany, followed by France, targeting over 1,000 identified DEB patients in these countries. Jefferies also initiated coverage on Krystal Biotech with a Buy rating and a $245 price target, highlighting the potential for VYJUVEK to achieve blockbuster status. The company’s ongoing development programs in cystic fibrosis, alpha-1 antitrypsin deficiency, oncology, and dermatology are expected to further bolster its market presence.
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