Korro Bio, Inc. (KRRO) – What Are Analysts Saying About This Stock?

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat reports. One equities research 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 brokerages that have issued ratings on the stock in the last year is $16.50.

A number of research analysts have commented on KRRO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a research report on Friday, October 2nd. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Korro Bio in a research report on Tuesday, October 6th. Jefferies Financial Group set a $15.00 target price on Korro Bio in a research note on Tuesday, October 6th. Finally, Wall Street Zen upgraded Korro Bio from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th.

Insider Transactions at Korro Bio

In other news, SVP Oliver Dolan sold 7,347 shares of Korro Bio stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $13.51, for a total transaction of $99,257.97. Following the sale, the senior vice president owned 16,252 shares of the company’s stock, valued at approximately $219,564.52. The trade was a 31.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Lynx1 Capital Management Lp purchased 5,222 shares of Korro Bio stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $11.40 per share, for a total transaction of $59,530.80. Following the transaction, the insider directly owned 1,543,518 shares of the company’s stock, valued at $17,596,105.20. This trade represents a 0.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 38,269 shares of company stock valued at $532,064. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in Korro Bio in the second quarter worth $210,000. Hsbc Holdings PLC bought a new position in shares of Korro Bio in the 2nd quarter worth about $233,000. Bank of New York Mellon Corp increased its stake in shares of Korro Bio by 15.2% in the 1st quarter. Bank of New York Mellon Corp now owns 21,730 shares of the company’s stock worth $246,000 after acquiring an additional 2,875 shares in the last quarter. Ieq Capital LLC bought a new position in shares of Korro Bio in the 2nd quarter worth about $280,000. Finally, Quantinno Capital Management LP lifted its position in Korro Bio by 30.4% during the 1st quarter. Quantinno Capital Management LP now owns 35,978 shares of the company’s stock valued at $407,000 after acquiring an additional 8,381 shares during the period. Hedge funds and other institutional investors own 13.18% of the company’s stock.

Korro Bio Price Performance

Shares of Korro Bio stock opened at $12.05 on Friday. The company’s fifty day simple moving average is $11.38 and its two-hundred day simple moving average is $12.05. Korro Bio has a 12-month low of $5.20 and a 12-month high of $42.93.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Thursday, August 6th. The company reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.27. As a group, equities analysts forecast that Korro Bio will post -4.95 EPS for the current fiscal year.

Korro Bio Company Profile

Korro Bio, Inc is a biotechnology company developing RNA editing medicines for the treatment of genetic diseases. The company’s approach is designed to make targeted changes to messenger RNA (mRNA), potentially correcting disease-causing mutations without permanently altering a patient’s DNA.

Korro Bio’s technology platform, known as Oligonucleotide Promoted Editing of RNA, or OPERA, uses engineered oligonucleotides to guide naturally occurring cellular RNA-editing processes. The platform is intended to support the development of medicines for diseases involving the liver and other tissues.

The company’s lead clinical program, KRRO-110, is being developed for alpha-1 antitrypsin deficiency, an inherited disorder caused by mutations in the SERPINA1 gene.