Korro Bio (NASDAQ:KRRO) Insider Sells $37,016.94 in Stock

Korro Bio, Inc. (NASDAQ:KRRO) insider Loic Vincent sold 3,418 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $10.83, for a total value of $37,016.94. Following the transaction, the insider directly owned 18,297 shares of the company’s stock, valued at $198,156.51. This represents a 15.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Korro Bio Stock Up 3.7%

Korro Bio stock traded up $0.39 during trading hours on Wednesday, hitting $11.05. The stock had a trading volume of 143,415 shares, compared to its average volume of 194,060. The company has a 50-day moving average of $12.24 and a two-hundred day moving average of $10.83. The company has a market cap of $159.37 million, a PE ratio of -0.95 and a beta of 3.01. Korro Bio, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $55.89.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.69) EPS for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that Korro Bio, Inc. will post -5.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

KRRO has been the topic of a number of research analyst reports. William Blair upgraded Korro Bio from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 17th. Wall Street Zen raised Korro Bio from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a report on Wednesday, April 8th. Cantor Fitzgerald upped their price objective on Korro Bio from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Finally, JonesTrading raised Korro Bio from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Korro Bio has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

Institutional Trading of Korro Bio

Several hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new position in Korro Bio during the 3rd quarter worth about $39,000. Wells Fargo & Company MN increased its holdings in Korro Bio by 45.5% during the 4th quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock worth $60,000 after purchasing an additional 2,352 shares in the last quarter. Guggenheim Capital LLC bought a new position in Korro Bio during the 4th quarter worth about $84,000. Jain Global LLC bought a new position in Korro Bio during the 4th quarter worth about $85,000. Finally, Deutsche Bank AG increased its holdings in Korro Bio by 241.9% during the 4th quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock worth $102,000 after purchasing an additional 9,027 shares in the last quarter. Institutional investors and hedge funds 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.