Korro Bio, Inc. (NASDAQ:KRRO) Given Average Recommendation of “Moderate Buy” by Analysts

Korro Bio, Inc. (NASDAQ:KRRO) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $16.7143.

Several research firms have weighed in on KRRO. JonesTrading upgraded shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Korro Bio in a research note on Wednesday, April 8th. Wall Street Zen upgraded shares of Korro Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Citigroup began coverage on shares of Korro Bio in a research note on Monday, May 18th. They set a “buy” rating and a $21.00 target price for the company. Finally, Raymond James Financial upgraded shares of Korro Bio from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Friday, March 13th.

Insider Buying and Selling at Korro Bio

In related news, CEO Ram Aiyar sold 15,152 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $12.98, for a total transaction of $196,672.96. Following the completion of the transaction, the chief executive officer owned 74,848 shares in the company, valued at $971,527.04. The trade was a 16.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jean Francois Formela sold 2,860 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $13.95, for a total value of $39,897.00. Following the transaction, the director owned 194,655 shares of the company’s stock, valued at $2,715,437.25. This represents a 1.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in Korro Bio during the 3rd quarter valued at approximately $39,000. PNC Financial Services Group Inc. acquired a new position in Korro Bio during the 3rd quarter valued at approximately $140,000. Algert Global LLC acquired a new position in Korro Bio during the 3rd quarter valued at approximately $340,000. Wells Fargo & Company MN boosted its position in Korro Bio by 45.5% during the 4th 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. Finally, Alliancebernstein L.P. acquired a new position in Korro Bio during the 3rd quarter valued at approximately $369,000. Institutional investors and hedge funds own 13.18% of the company’s stock.

Korro Bio Stock Performance

Shares of Korro Bio stock opened at $11.61 on Friday. The firm has a market cap of $167.42 million, a PE ratio of -0.99 and a beta of 3.00. The firm’s 50-day simple moving average is $12.35 and its 200-day simple moving average is $10.72. Korro Bio has a 1 year low of $5.20 and a 1 year high of $55.89.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Thursday, May 7th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.09). Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 117.86%. On average, equities analysts predict that Korro Bio will post -5.36 earnings per share for the current year.

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.