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PITTSBURGH—Suma Krishnan, President of Research and Development at Krystal Biotech , Inc. (NASDAQ:KRYS), has sold shares worth approximately $8.9 million, according to a recent SEC filing. The transactions, executed on March 13, involved the sale of a total of 44,266 shares. The company, currently valued at $5.1 billion, has demonstrated impressive financial health with a 93% gross profit margin and remarkable revenue growth of 473% over the last twelve months, according to InvestingPro data.
The sales were conducted under two separate Rule 10b5-1 trading plans. Krishnan’s direct sales accounted for $4,444,761, with share prices ranging from $175.97 to $179.55. Additionally, shares sold by her spouse, Krish S. Krishnan, amounted to $4,444,763, with prices ranging from $175.83 to $179.57. Trading at a P/E ratio of 57.6, the stock currently shows mixed signals on valuation. Get detailed insights and 12 additional key metrics with InvestingPro’s comprehensive research report.
Following these transactions, Suma Krishnan retains direct ownership of 1,463,711 shares, while indirect holdings include shares owned by the SMK Trust and the Krishnan Family Trust. The trading plans, initiated in June 2024, are set to continue until September 2025, allowing for quarterly sales of up to 25,000 shares at a limit price of $150.00 per share. With a strong current ratio of 7.28, the company maintains robust liquidity to meet its short-term obligations.
In other recent news, Krystal Biotech reported its financial results for the fourth quarter and full year of 2024. The company posted an earnings per share (EPS) of $1.52 for Q4, surpassing analyst expectations of $1.21. However, revenue came in slightly below forecasts at $91.1 million compared to the anticipated $91.63 million. Despite the revenue miss, Krystal Biotech’s product VYJUVEK has been a key driver of growth, with total annual revenue reaching $290.5 million. The company ended 2024 with a strong financial position, holding $749.6 million in cash and investments.
In other developments, Jefferies initiated coverage of Krystal Biotech with a Buy rating and a price target of $245, highlighting the potential of VYJUVEK to achieve blockbuster status. Meanwhile, H.C. Wainwright maintained its Buy rating and $221 price target, expressing optimism about VYJUVEK’s growth and the company’s European expansion plans. Krystal Biotech announced a favorable opinion from the European Medicines Agency for VYJUVEK, with the final decision expected in 2025, marking a significant step towards its international launch.
The company is preparing for its first European launch in Germany, followed by France, targeting over 1,000 identified DEB patients in these regions. Additionally, Krystal Biotech is expanding its pipeline with programs in cystic fibrosis, alpha-1 antitrypsin deficiency, and oncology, leveraging its proprietary gene delivery technology. These strategic initiatives underscore Krystal Biotech’s ongoing commitment to innovation and market expansion.
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