Korro Bio (NASDAQ:KRRO) Rating Increased to Outperform at William Blair

Korro Bio (NASDAQ:KRRO) was upgraded by research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports.

A number of other equities analysts have also recently commented on the stock. Royal Bank Of Canada cut shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 13th. Raymond James Financial restated a “market perform” rating on shares of Korro Bio in a research note on Wednesday, January 28th. Piper Sandler cut shares of Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 target price for the company. in a report on Thursday, November 13th. Wall Street Zen lowered Korro Bio from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Finally, Chardan Capital upgraded Korro Bio from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Thursday, January 29th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Korro Bio has a consensus rating of “Hold” and an average target price of $66.50.

Korro Bio Stock Down 5.0%

KRRO opened at $11.17 on Tuesday. Korro Bio has a 52 week low of $5.20 and a 52 week high of $55.89. The business’s 50 day moving average is $9.63 and its two-hundred day moving average is $21.04. The firm has a market cap of $105.22 million, a price-to-earnings ratio of -1.19 and a beta of 2.99.

Institutional Trading of Korro Bio

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new position in Korro Bio during the third quarter worth $39,000. Wells Fargo & Company MN boosted its position in shares of Korro Bio by 45.5% during the 4th quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock worth $60,000 after purchasing an additional 2,352 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Korro Bio by 241.9% during the 4th quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock worth $102,000 after purchasing an additional 9,027 shares during the period. CWM LLC increased its holdings in shares of Korro Bio by 391.4% in the 3rd quarter. CWM LLC now owns 2,693 shares of the company’s stock valued at $129,000 after purchasing an additional 2,145 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Korro Bio in the third quarter valued at about $140,000. 13.18% of the stock is owned by institutional investors and hedge funds.

Korro Bio Company Profile

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.