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

Korro Bio, Inc. (NASDAQ:KRRO) has received an average rating of “Hold” from the ten research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $76.00.

Several analysts have weighed in on the company. William Blair lowered Korro Bio from an “outperform” rating to a “market perform” rating in a report on Thursday, November 13th. Chardan Capital reiterated a “neutral” rating on shares of Korro Bio in a research report on Thursday, November 13th. Piper Sandler cut 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. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada cut shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 13th.

Korro Bio Price Performance

Shares of NASDAQ:KRRO opened at $5.90 on Tuesday. The business’s 50 day simple moving average is $34.43 and its 200-day simple moving average is $23.02. The firm has a market capitalization of $55.58 million, a price-to-earnings ratio of -0.63 and a beta of 2.94. Korro Bio has a 12 month low of $5.70 and a 12 month high of $56.69.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($1.92) earnings per share 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 return on equity of 68.87% and a negative net margin of 1,199.53%. On average, equities analysts anticipate that Korro Bio will post -9.52 earnings per share for the current year.

Institutional Investors Weigh In On Korro Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. TCG Crossover Management LLC acquired a new stake in Korro Bio during the 3rd quarter valued at $19,937,000. Cormorant Asset Management LP acquired a new position in shares of Korro Bio in the first quarter worth $6,621,000. JPMorgan Chase & Co. lifted its position in shares of Korro Bio by 6,185.5% in the third quarter. JPMorgan Chase & Co. now owns 199,249 shares of the company’s stock valued at $9,542,000 after acquiring an additional 196,079 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Korro Bio during the third quarter valued at $4,319,000. Finally, Driehaus Capital Management LLC boosted its stake in shares of Korro Bio by 17.7% during the first quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company’s stock valued at $10,140,000 after acquiring an additional 87,544 shares during the last quarter. Hedge funds and other institutional investors own 13.18% of the company’s stock.

Korro Bio Company Profile

Korro Bio, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of genetic medicines based on editing RNA for the treatment of rare and highly prevalent diseases primarily in the United States. Its lead product candidate is KRRO-110 which is in preclinical trials for the treatment of Alpha-1 Antitrypsin Deficiency (AATD).