Korro Bio (NASDAQ:KRRO) Upgraded to Strong-Buy at Clear Str

Korro Bio (NASDAQ:KRRO) was upgraded by equities researchers at Clear Str from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

KRRO has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a research report on Friday, January 9th. JonesTrading lowered Korro Bio from a “buy” rating to a “hold” rating in a research report on Friday, November 14th. Piper Sandler downgraded Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price objective for the company. in a report on Thursday, November 13th. Cantor Fitzgerald cut shares of Korro Bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 13th. Finally, Chardan Capital raised shares of 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $50.38.

Korro Bio Trading Up 4.2%

Korro Bio stock opened at $11.70 on Wednesday. Korro Bio has a 1-year low of $5.20 and a 1-year high of $55.89. The company has a fifty day simple moving average of $9.86 and a 200 day simple moving average of $20.89. The company has a market cap of $110.21 million, a P/E ratio of -1.24 and a beta of 2.99.

Institutional Trading of Korro Bio

Several hedge funds and other institutional investors have recently modified their holdings of KRRO. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Korro Bio in the third quarter valued at approximately $2,821,000. AlphaQuest LLC boosted its stake in Korro Bio by 195.9% in the 2nd quarter. AlphaQuest LLC now owns 27,211 shares of the company’s stock valued at $340,000 after purchasing an additional 18,015 shares during the period. CWM LLC grew its holdings in 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 buying an additional 2,145 shares in the last quarter. Jain Global LLC bought a new position in Korro Bio during the 4th quarter worth $85,000. Finally, Guggenheim Capital LLC acquired a new stake in shares of Korro Bio during the fourth quarter worth $84,000. Institutional investors own 13.18% of the company’s stock.

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.