Korro Bio (NASDAQ:KRRO) SVP Sells 7,347 Shares

Korro Bio, Inc. (NASDAQ:KRRO) SVP Oliver Dolan sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $13.51, for a total value of $99,257.97. Following the sale, the senior vice president owned 16,252 shares in the company, valued at approximately $219,564.52. This trade represents a 31.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Oliver Dolan also recently made the following trade(s):

• On Wednesday, September 9th, Oliver Dolan sold 6 shares of Korro Bio stock. The stock was sold at an average price of $13.60, for a total transaction of $81.60.

Korro Bio Price Performance

Shares of Korro Bio stock traded up $0.13 during trading on Thursday, hitting $13.06. 145,793 shares of the stock were exchanged, compared to its average volume of 187,756. Korro Bio, Inc. has a 12-month low of $5.20 and a 12-month high of $55.89. The stock has a market cap of $192.37 million, a price-to-earnings ratio of -1.31 and a beta of 3.09. The firm’s 50-day moving average price is $12.64 and its 200 day moving average price is $12.31.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts forecast that Korro Bio, Inc. will post -4.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KRRO has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a research report on Monday, July 6th. Citigroup assumed coverage on shares of Korro Bio in a report on Monday, May 18th. They issued a “buy” rating and a $21.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Korro Bio in a research note on Thursday, August 20th. Lifesci Capital raised Korro Bio to a “strong-buy” rating in a report on Friday, May 29th. Finally, Wall Street Zen raised shares of Korro Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.71.

Hedge Funds Weigh In On Korro Bio

Several institutional investors and hedge funds have recently bought and sold shares of KRRO. Russell Investments Group Ltd. purchased a new position in Korro Bio during the third quarter worth approximately $39,000. Algert Global LLC purchased a new stake in shares of Korro Bio during the 3rd quarter valued at about $340,000. Wells Fargo & Company MN boosted its stake in shares of Korro Bio by 45.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock valued at $60,000 after purchasing an additional 2,352 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of Korro Bio during the third quarter valued at about $369,000. Finally, Blair William & Co. IL purchased a new stake in Korro Bio during the 3rd quarter worth approximately $467,000. Institutional investors and hedge funds own 13.18% of the company’s stock.

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.