Yahoo Finance Krystal Biotech (KRYS) Surged as it Beat the Streat Estimates with Wide Margin
TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter the fund returned 5.77% (net), compared to a 7.58% return for the Russell 2000 Growth Index. Despite a decline in many equity markets in January, they rebounded over the following two months, resulting in a robust 2024 first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.
TimesSquare Capital U.S. Small Cap Growth Strategy highlighted stocks like Krystal Biotech, Inc. (NASDAQ:KRYS), in the first quarter 2024 investor letter. Krystal Biotech, Inc. (NASDAQ:KRYS) is a commercial-stage biotechnology company, that develops genetic medicines for patients with rare diseases. The one-month return of Krystal Biotech, Inc. (NASDAQ:KRYS) was 5.15%, and its shares gained 43.27% of their value over the last 52 weeks. On June 20, 2024, Krystal Biotech, Inc. (NASDAQ:KRYS) stock closed at $171.21 per share with a market capitalization of $4.889 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding Krystal Biotech, Inc. (NASDAQ:KRYS) in its first quarter 2024 investor letter:
Our preferences among Health Care stocks are those companies providing novel therapies for unmet needs that deserve premium pricing, or specialized service providers. Krystal Biotech, Inc. (NASDAQ:KRYS), a gene therapy company, soared 42% and we trimmed the position. Their fourth quarter sales surpassed Street estimates by a wide margin. Of note, there is now a reduced time for getting approval for Vyjuvek to treat eye lesions in patients suffering from dystrophic epidermolysis bullosa (blistering of skin).
A medical professional in a lab, analyzing gene therapy solutions toprevent rare diseases.
Krystal Biotech, Inc. (NASDAQ:KRYS) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Krystal Biotech, Inc. (NASDAQ:KRYS) at the end of the first quarter which was 27 in the previous quarter. At the end of the first quarter, Krystal Biotech, Inc. (NASDAQ:KRYS) had $359 million in cash on hand and $622.3 million in total cash and investments. While we acknowledge the potential of Krystal Biotech, Inc. (NASDAQ:KRYS) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Krystal Biotech, Inc. (NASDAQ:KRYS) and shared the list of best gene therapy stocks to buy. TimesSquare Capital Management added Krystal Biotech, Inc. (NASDAQ:KRYS) to its portfolio in Q3 2023. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
