Korro Bio, Inc. (NASDAQ:KRRO) Receives $76.00 Consensus PT from Analysts

Korro Bio, Inc. (NASDAQ:KRRO) has been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $76.00.

KRRO has been the topic of a number of recent research reports. Wall Street Zen cut shares of Korro Bio from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Jones Trading downgraded shares of Korro Bio from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. Chardan Capital restated a “neutral” rating on shares of Korro Bio in a research report on Thursday, November 13th. Cantor Fitzgerald downgraded Korro Bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 13th. Finally, Piper Sandler downgraded Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Thursday, November 13th.

Korro Bio Stock Performance

Korro Bio stock opened at $8.12 on Friday. The company has a market capitalization of $76.49 million, a P/E ratio of -0.86 and a beta of 3.03. Korro Bio has a fifty-two week low of $5.20 and a fifty-two week high of $55.89. The stock has a 50-day simple moving average of $17.77 and a 200-day simple moving average of $21.78.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($1.92) EPS for the quarter, topping the consensus estimate of ($2.61) by $0.69. The company had revenue of $1.09 million for the quarter, compared to analyst estimates of $0.41 million. Korro Bio had a negative return on equity of 68.87% and a negative net margin of 1,199.53%. As a group, analysts forecast that Korro Bio will post -9.52 earnings per share for the current year.

Hedge Funds Weigh In On Korro Bio

Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in shares of Korro Bio during the third quarter worth about $39,000. Quarry LP acquired a new position in Korro Bio during the 1st quarter worth approximately $35,000. CWM LLC raised its stake in shares of Korro Bio by 391.4% during the 3rd quarter. CWM LLC now owns 2,693 shares of the company’s stock worth $129,000 after buying an additional 2,145 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Korro Bio in the 3rd quarter valued at approximately $140,000. Finally, Wealth Forward LLC purchased a new stake in shares of Korro Bio in the third quarter valued at approximately $240,000. 13.18% of the stock is owned by institutional investors and hedge funds.

About Korro Bio

Korro Bio, Inc is a clinical-stage biotechnology company focused on harnessing advanced protein engineering and synthetic biology to develop novel enzyme therapies and live microbial therapeutics. The company’s proprietary platform integrates directed evolution, high-throughput screening and computational design to optimize biological catalysts for a wide range of applications. By combining machine learning with experimental biology, Korro Bio seeks to accelerate the discovery and development of next-generation treatments for rare genetic disorders and complex metabolic diseases.

The company’s pipeline features both engineered enzyme therapeutics and live biotherapeutics.