Korro Bio, Inc. (NASDAQ:KRRO) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Korro Bio has a “Moderate Buy” consensus rating from 12 analysts, with six buys, three strong buys, two holds and one sell. The average 12-month price target is $16.71, compared with a recent share price of $10.02.
• The company reported a quarterly loss of $1.07 per share, beating the consensus estimate of a $1.34 loss, but continues to post deeply negative profitability metrics and analysts expect a full-year loss of $4.95 per share.
• Insider activity was mixed: a major shareholder purchased about $59,500 of stock, while insiders sold approximately $4.48 million worth of shares over the past 90 days. Institutional investors own 13.18% of Korro Bio.

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $16.7143.

Several equities research analysts have recently commented on KRRO shares. Lifesci Capital raised shares of Korro Bio to a "strong-buy" rating in a research report on Friday, May 29th. Wall Street Zen raised shares of Korro Bio from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Korro Bio in a research report on Monday, July 6th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $15.00 target price on shares of Korro Bio in a report on Thursday, August 20th.

Korro Bio Price Performance

NASDAQ KRRO opened at $10.02 on Monday. The stock has a market capitalization of $147.59 million, a price-to-earnings ratio of -1.00 and a beta of 3.09. Korro Bio has a 1-year low of $5.20 and a 1-year high of $55.89. The business's fifty day moving average price is $12.45 and its 200-day moving average price is $12.37.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.07) EPS for the quarter, topping the consensus estimate 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%. Equities research analysts anticipate that Korro Bio will post -4.95 EPS for the current year.

Insider Activity

In related news, major shareholder Lynx1 Capital Management Lp bought 5,222 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average cost of $11.40 per share, with a total value of $59,530.80. Following the acquisition, the insider owned 1,543,518 shares in the company, valued at $17,596,105.20. This trade represents a 0.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Oliver Dolan sold 7,347 shares of Korro Bio stock in a transaction 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 transaction, the senior vice president owned 16,252 shares in the company, valued at $219,564.52. This trade represents a 31.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 315,735 shares of company stock valued at $4,478,535 in the last 90 days. Company insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

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

Korro Bio Company Profile

Korro Bio, Inc is a clinical-stage biotechnology company focused on developing RNA-editing medicines for genetic diseases. The company's approach is designed to make precise changes to messenger RNA (mRNA), potentially correcting disease-causing genetic mutations without permanently altering a patient's DNA.

Korro's technology platform uses short, chemically modified oligonucleotides to guide naturally occurring RNA-editing enzymes, including adenosine deaminase acting on RNA (ADAR), to targeted RNA sequences.

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