Todd Chappell Sells 3,168 Shares of Korro Bio (NASDAQ:KRRO) Stock

Korro Bio, Inc. (NASDAQ:KRRO) COO Todd Chappell sold 3,168 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $10.83, for a total value of $34,309.44. Following the completion of the transaction, the chief operating officer directly owned 16,964 shares in the company, valued at approximately $183,720.12. This trade represents a 15.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Korro Bio Trading Up 17.6%

NASDAQ KRRO opened at $12.99 on Friday. The stock has a fifty day simple moving average of $12.17 and a 200-day simple moving average of $10.92. The stock has a market cap of $187.32 million, a PE ratio of -1.11 and a beta of 3.00. Korro Bio, Inc. has a twelve month low of $5.20 and a twelve month high of $55.89.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.69) earnings per share (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%. Research analysts predict that Korro Bio, Inc. will post -5.36 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KRRO. Lifesci Capital raised shares of Korro Bio to a “strong-buy” rating in a research note on Friday, May 29th. Wall Street Zen upgraded shares of Korro Bio from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. JonesTrading raised Korro Bio from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Citigroup assumed coverage on Korro Bio in a research report on Monday, May 18th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Raymond James Financial upgraded Korro Bio from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a research report on Friday, March 13th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Korro Bio currently has an average rating of “Moderate Buy” and an average price target of $16.71.

Institutional Trading of Korro Bio

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. acquired a new stake in shares of Korro Bio during the third quarter worth about $39,000. Wells Fargo & Company MN grew its holdings in shares of Korro Bio by 45.5% in the fourth 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 in the last quarter. Guggenheim Capital LLC acquired a new position in shares of Korro Bio in the fourth quarter valued at approximately $84,000. Jain Global LLC purchased a new stake in Korro Bio during the 4th quarter worth approximately $85,000. Finally, Deutsche Bank AG increased its stake 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 buying an additional 9,027 shares during the period. 13.18% of the stock is currently owned by hedge funds and other 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.