Korro Bio, Inc. (NASDAQ:KRRO) Receives Average Rating of “Hold” from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have been assigned a consensus recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $76.00.

KRRO has been the topic of several recent research reports. HC Wainwright restated a “neutral” rating on shares of Korro Bio in a research report on Thursday, November 13th. William Blair cut shares of Korro Bio from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 13th. Cantor Fitzgerald downgraded shares of Korro Bio from an “overweight” rating to a “neutral” rating in a report on Thursday, November 13th. Royal Bank Of Canada lowered shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 13th. Finally, Piper Sandler cut shares of Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price objective for the company. in a report on Thursday, November 13th.

Korro Bio Price Performance

Shares of KRRO opened at $7.90 on Friday. The company’s fifty day moving average price is $21.61 and its 200-day moving average price is $21.95. Korro Bio has a 1-year low of $5.20 and a 1-year high of $55.89. The firm has a market capitalization of $74.37 million, a PE ratio of -0.84 and a beta of 3.03.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Wednesday, November 12th. The company reported ($1.92) EPS for the quarter, beating analysts’ consensus estimates of ($2.61) by $0.69. The firm had revenue of $1.09 million for the quarter, compared to analyst estimates of $0.41 million. Korro Bio had a negative return on equity of 68.87% and a negative net margin of 1,199.53%. As a group, research analysts anticipate that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Trading of Korro Bio

Several large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Korro Bio by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company’s stock worth $318,000 after buying an additional 790 shares in the last quarter. Nuveen LLC purchased a new stake in Korro Bio during the 1st quarter valued at about $211,000. Aberdeen Group plc acquired a new stake in Korro Bio in the 1st quarter valued at about $1,470,000. AlphaQuest LLC lifted its stake in Korro Bio by 320.1% in the 1st quarter. AlphaQuest LLC now owns 9,196 shares of the company’s stock worth $160,000 after purchasing an additional 7,007 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Korro Bio by 17.7% during the 1st quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company’s stock worth $10,140,000 after purchasing an additional 87,544 shares during the last quarter. 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.