Analysts Set Korro Bio, Inc. (NASDAQ:KRRO) PT at $66.50

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have received an average rating of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $66.50.

Several equities research analysts recently issued reports on the company. Chardan Capital raised Korro Bio from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday, January 29th. Raymond James Financial reaffirmed a “market perform” rating on shares of Korro Bio in a report on Wednesday, January 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Korro Bio in a report on Friday, January 9th. William Blair restated a “market perform” rating and issued a $10.00 price objective on shares of Korro Bio in a research report on Wednesday, January 28th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Korro Bio in a research report on Thursday, November 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Korro Bio during the third quarter valued at about $39,000. Deutsche Bank AG increased its position in shares of 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. CWM LLC raised its holdings in shares of Korro Bio by 391.4% during 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. PNC Financial Services Group Inc. purchased a new position in shares of Korro Bio during the 3rd quarter valued at about $140,000. Finally, Wealth Forward LLC bought a new stake in Korro Bio in the 3rd quarter worth approximately $240,000. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Korro Bio Trading Down 4.3%

KRRO stock opened at $11.76 on Friday. The firm has a 50 day moving average of $9.48 and a 200-day moving average of $21.02. The firm has a market capitalization of $110.78 million, a P/E ratio of -1.25 and a beta of 2.99. Korro Bio has a 12 month low of $5.20 and a 12 month high of $55.89.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($1.92) EPS for the quarter, beating the consensus estimate of ($2.61) by $0.69. The firm had revenue of $1.09 million during the quarter, compared to the consensus estimate of $0.41 million. Korro Bio had a negative net margin of 1,199.53% and a negative return on equity of 68.87%. Sell-side analysts predict that Korro Bio will post -9.52 EPS for the current year.

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.