Korro Bio, Inc. (NASDAQ:KRRO) Given Average Rating of “Moderate Buy” by Brokerages

Korro Bio, Inc. (NASDAQ:KRRO) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.7143.

A number of research firms recently issued reports on KRRO. Weiss Ratings reissued a “sell (d-)” rating on shares of Korro Bio in a research note on Wednesday, April 8th. Clear Str raised shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Wall Street Zen raised shares of Korro Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Cantor Fitzgerald lifted their price target on shares of Korro Bio from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Finally, HC Wainwright dropped their price target on shares of Korro Bio from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th.

Korro Bio Stock Up 3.7%

NASDAQ:KRRO opened at $11.05 on Friday. Korro Bio has a 52 week low of $5.20 and a 52 week high of $55.89. The stock has a market capitalization of $159.34 million, a PE ratio of -0.95 and a beta of 3.00. The stock’s 50-day moving average price is $12.19 and its 200-day moving average price is $10.87.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Thursday, May 7th. The company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.09). Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 117.86%. Sell-side analysts expect that Korro Bio will post -5.36 earnings per share for the current fiscal year.

Insider Transactions at Korro Bio

In related news, insider Loic A. Vincent sold 3,418 shares of Korro Bio stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $10.83, for a total value of $37,016.94. Following the sale, the insider directly owned 18,297 shares in the company, valued at approximately $198,156.51. The trade was a 15.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Todd Chappell sold 3,168 shares of Korro Bio stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $10.83, for a total value of $34,309.44. Following the completion of the sale, the chief operating officer owned 16,964 shares in the company, valued at approximately $183,720.12. The trade was a 15.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 24,598 shares of company stock valued at $307,896. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Korro Bio

Several institutional investors have recently bought and sold shares of KRRO. Affinity Asset Advisors LLC acquired a new stake in Korro Bio during the 1st quarter worth $8,002,000. Nantahala Capital Management LLC acquired a new stake in Korro Bio during the 4th quarter worth $4,806,000. ADAR1 Capital Management LLC acquired a new stake in Korro Bio during the 1st quarter worth $6,113,000. TCG Crossover Management LLC acquired a new stake in Korro Bio during the 3rd quarter worth $19,937,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Korro Bio by 6,185.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 199,249 shares of the company’s stock worth $9,542,000 after purchasing an additional 196,079 shares during the last quarter. 13.18% of the stock is currently 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.