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

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $16.7143.

KRRO has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Korro Bio from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Korro Bio in a report on Thursday, August 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Korro Bio in a research report on Monday, July 6th. Citigroup began coverage on Korro Bio in a research note on Monday, May 18th. They issued a “buy” rating and a $21.00 target price for the company. Finally, JonesTrading upgraded Korro Bio from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th.

Korro Bio Stock Performance

KRRO stock opened at $12.49 on Thursday. The firm has a market cap of $183.98 million, a P/E ratio of -1.25 and a beta of 3.04. The firm’s fifty day moving average is $12.75 and its 200 day moving average is $12.27. Korro Bio has a 52 week low of $5.20 and a 52 week high of $55.89.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.07) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.27. Korro Bio had a negative return on equity of 114.26% and a negative net margin of 1,834.48%. As a group, analysts forecast that Korro Bio will post -4.97 EPS for the current year.

Insider Buying and Selling at Korro Bio

In other Korro Bio news, major shareholder Lynx1 Capital Management Lp bought 5,222 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $11.40 per share, with a total value of $59,530.80. Following the completion of the purchase, the insider owned 1,543,518 shares of the company’s stock, valued at approximately $17,596,105.20. This trade represents a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Todd Chappell sold 3,168 shares of Korro Bio stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $10.83, for a total transaction of $34,309.44. Following the transaction, the chief operating officer owned 16,964 shares of the company’s stock, valued at $183,720.12. The trade was a 15.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 318,925 shares of company stock worth $4,505,723 in the last ninety days. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Korro Bio

Several hedge funds have recently added to or reduced their stakes in KRRO. Russell Investments Group Ltd. purchased a new stake in Korro Bio during the 3rd quarter valued at about $39,000. Wells Fargo & Company MN raised its holdings in Korro Bio by 45.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock worth $60,000 after acquiring an additional 2,352 shares during the last quarter. Guggenheim Capital LLC bought a new position in Korro Bio in the 4th quarter valued at approximately $84,000. Jain Global LLC bought a new position in Korro Bio in the 4th quarter valued at approximately $85,000. Finally, Deutsche Bank AG boosted its stake in Korro Bio by 241.9% during the 4th quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock valued at $102,000 after purchasing an additional 9,027 shares during the last quarter. 13.18% of the stock is owned by 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.