Jean Francois Formela Sells 2,143 Shares of Korro Bio (NASDAQ:KRRO) Stock

Korro Bio, Inc. (NASDAQ:KRRO) Director Jean Francois Formela sold 2,143 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $13.96, for a total transaction of $29,916.28. Following the sale, the director owned 145,937 shares of the company’s stock, valued at $2,037,280.52. This represents a 1.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jean Francois Formela also recently made the following trade(s):

• On Monday, July 6th, Jean Francois Formela sold 9,323 shares of Korro Bio stock. The shares were sold at an average price of $13.96, for a total transaction of $130,149.08.
• On Thursday, July 2nd, Jean Francois Formela sold 100,700 shares of Korro Bio stock. The shares were sold at an average price of $14.03, for a total value of $1,412,821.00.
• On Wednesday, June 24th, Jean Francois Formela sold 48,438 shares of Korro Bio stock. The shares were sold at an average price of $14.61, for a total value of $707,679.18.
• On Tuesday, June 23rd, Jean Francois Formela sold 119,005 shares of Korro Bio stock. The stock was sold at an average price of $14.25, for a total value of $1,695,821.25.
• On Monday, June 22nd, Jean Francois Formela sold 3,962 shares of Korro Bio stock. The stock was sold at an average price of $13.95, for a total value of $55,269.90.
• On Thursday, May 28th, Jean Francois Formela sold 2,860 shares of Korro Bio stock. The shares were sold at an average price of $13.95, for a total value of $39,897.00.

Korro Bio Stock Down 0.1%

Shares of Korro Bio stock opened at $13.28 on Friday. Korro Bio, Inc. has a 52 week low of $5.20 and a 52 week high of $55.89. The business’s fifty day simple moving average is $12.39 and its 200-day simple moving average is $12.19. The firm has a market cap of $195.56 million, a PE ratio of -1.33 and a beta of 3.04.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.27. The firm had revenue of $1.50 million during the quarter, compared to the consensus estimate of $0.21 million. Korro Bio had a negative return on equity of 114.26% and a negative net margin of 1,834.48%. As a group, equities analysts expect that Korro Bio, Inc. will post -4.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KRRO shares. Lifesci Capital upgraded shares of Korro Bio to a “strong-buy” rating in a research report on Friday, May 29th. Wall Street Zen upgraded shares of Korro Bio from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. JonesTrading raised shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. HC Wainwright dropped their target price on shares of Korro Bio from $20.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Korro Bio in a report on Monday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Korro Bio presently has an average rating of “Moderate Buy” and a consensus target price of $16.71.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of KRRO. ADAR1 Capital Management LLC purchased a new stake in Korro Bio during the second quarter worth about $7,118,000. Hsbc Holdings PLC acquired a new stake in shares of Korro Bio during the second quarter worth about $233,000. Ieq Capital LLC purchased a new position in shares of Korro Bio in the second quarter valued at approximately $280,000. BlackRock Inc. purchased a new position in shares of Korro Bio in the second quarter valued at approximately $10,776,000. Finally, Deutsche Bank AG acquired a new position in shares of Korro Bio in the second quarter valued at approximately $210,000. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

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.