Oliver Dolan Sells 7,347 Shares of Korro Bio (NASDAQ:KRRO) Stock

Korro Bio, Inc. (NASDAQ:KRRO) SVP Oliver Dolan sold 7,347 shares of Korro Bio stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $13.51, for a total value of $99,257.97. Following the completion of the sale, the senior vice president directly owned 16,252 shares in the company, valued at $219,564.52. This represents a 31.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Oliver Dolan also recently made the following trade(s):

• On Wednesday, September 9th, Oliver Dolan sold 6 shares of Korro Bio stock. The stock was sold at an average price of $13.60, for a total value of $81.60.

Korro Bio Trading Up 5.7%

Shares of KRRO stock opened at $13.81 on Friday. The stock has a 50 day simple moving average of $12.62 and a 200-day simple moving average of $12.33. The company has a market cap of $203.42 million, a price-to-earnings ratio of -1.38 and a beta of 3.09. Korro Bio, Inc. has a 12-month low of $5.20 and a 12-month high of $55.89.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($1.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.27. Korro Bio had a negative return on equity of 114.26% and a negative net margin of 1,834.48%. On average, equities analysts forecast that Korro Bio, Inc. will post -4.97 earnings per share for the current fiscal year.

Institutional Trading of Korro Bio

A number of institutional investors have recently bought and sold shares of KRRO. Russell Investments Group Ltd. purchased a new position in shares of Korro Bio in the third quarter valued at $39,000. Wells Fargo & Company MN boosted its position in shares of Korro Bio by 45.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock worth $60,000 after buying an additional 2,352 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Korro Bio in the 4th quarter worth about $84,000. Jain Global LLC acquired a new stake in Korro Bio in the 4th quarter valued at about $85,000. Finally, Deutsche Bank AG grew its stake in Korro Bio by 241.9% in the 4th quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock valued at $102,000 after acquiring an additional 9,027 shares during the last quarter. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. 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 price target on the stock. Wall Street Zen upgraded shares of Korro Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Korro Bio in a report on Monday, July 6th. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Korro Bio in a report on Thursday, August 20th. Finally, Lifesci Capital upgraded shares of Korro Bio to a “strong-buy” rating in a research report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

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.