Korro Bio (NASDAQ:KRRO) Raised to Outperform at William Blair

Korro Bio (NASDAQ:KRRO) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a report released on Tuesday, Marketbeat reports.

Several other equities analysts also recently issued reports on the company. Cantor Fitzgerald downgraded Korro Bio from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 13th. Piper Sandler cut Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Thursday, November 13th. Wall Street Zen downgraded shares of Korro Bio from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. JonesTrading cut shares of Korro Bio from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. Finally, Royal Bank Of Canada downgraded shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Korro Bio presently has a consensus rating of “Hold” and a consensus target price of $50.38.

Korro Bio Stock Performance

Shares of NASDAQ KRRO opened at $11.23 on Tuesday. Korro Bio has a fifty-two week low of $5.20 and a fifty-two week high of $55.89. The company has a market cap of $105.79 million, a PE ratio of -1.19 and a beta of 2.99. The business has a 50-day simple moving average of $9.79 and a two-hundred day simple moving average of $20.95.

Hedge Funds Weigh In On Korro Bio

Several institutional investors and hedge funds have recently modified their holdings of KRRO. Nantahala Capital Management LLC acquired a new position in shares of Korro Bio during the 4th quarter worth approximately $4,806,000. TCG Crossover Management LLC purchased a new stake in Korro Bio in the 3rd quarter worth $19,937,000. Vanguard Group Inc. raised its position in Korro Bio by 2.3% during the third quarter. Vanguard Group Inc. now owns 395,659 shares of the company’s stock worth $18,948,000 after acquiring an additional 8,921 shares during the period. Polar Capital Holdings Plc lifted its holdings in Korro Bio by 5.9% during the third quarter. Polar Capital Holdings Plc now owns 264,694 shares of the company’s stock valued at $12,676,000 after purchasing an additional 14,694 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Korro Bio by 1.8% in the third quarter. Millennium Management LLC now owns 260,333 shares of the company’s stock valued at $12,467,000 after purchasing an additional 4,650 shares during the period. Hedge funds and other institutional investors 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.