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

Korro Bio, Inc. (NASDAQ:KRRO) has been given an average recommendation of “Hold” by the ten research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $66.50.

Several research firms have issued reports on KRRO. HC Wainwright reiterated a “neutral” rating on shares of Korro Bio in a research note on Thursday, November 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Korro Bio in a report on Friday, January 9th. Piper Sandler downgraded shares of Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research note on Thursday, November 13th. Cantor Fitzgerald downgraded Korro Bio from an “overweight” rating to a “neutral” rating in a report on Thursday, November 13th. Finally, Royal Bank Of Canada downgraded shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 13th.

Korro Bio Stock Performance

Shares of KRRO stock opened at $12.57 on Friday. The firm has a market capitalization of $118.41 million, a price-to-earnings ratio of -1.34 and a beta of 2.99. The company has a 50 day moving average price of $8.97 and a 200 day moving average price of $21.17. Korro Bio has a one year low of $5.20 and a one year high of $55.89.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Wednesday, November 12th. The company reported ($1.92) earnings per share 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 analysts’ expectations 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, equities analysts forecast that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Korro Bio

Hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC grew its position in shares of Korro Bio by 195.9% during the second quarter. AlphaQuest LLC now owns 27,211 shares of the company’s stock worth $340,000 after acquiring an additional 18,015 shares during the last quarter. Geode Capital Management LLC boosted its stake in Korro Bio by 10.8% during the 2nd quarter. Geode Capital Management LLC now owns 155,387 shares of the company’s stock valued at $1,941,000 after purchasing an additional 15,166 shares during the period. Raymond James Financial Inc. boosted its stake in Korro Bio by 357.6% during the 2nd quarter. Raymond James Financial Inc. now owns 83,392 shares of the company’s stock valued at $1,042,000 after purchasing an additional 65,170 shares during the period. Bank of America Corp DE grew its position in Korro Bio by 520.0% in the 2nd quarter. Bank of America Corp DE now owns 28,156 shares of the company’s stock worth $352,000 after purchasing an additional 23,615 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Korro Bio by 391.4% in the third quarter. CWM LLC now owns 2,693 shares of the company’s stock valued at $129,000 after purchasing an additional 2,145 shares during the period. 13.18% of the stock is currently owned by institutional investors.

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.