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

Key Points

• Analysts give Korro Bio a “Moderate Buy” consensus: Six analysts rate the stock a buy, three a strong buy, two a hold and one a sell. The average 12-month price target is $16.71, above the reported $13.68 opening price.
• Korro Bio reported quarterly EPS of -$1.07, beating the consensus estimate of -$1.34. Analysts expect a full-year loss of approximately $4.97 per share, while the company continues to show deeply negative profitability metrics.
• The stock has traded between $5.20 and $55.89 over the past year and has a market capitalization of about $201 million. Recent insider activity included a COO stock sale and a purchase by major shareholder Lynx1 Capital Management.

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twelve analysts that are covering the company, Marketbeat Ratings reports. One 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 brokers that have issued ratings on the stock in the last year is $16.7143.

A number of analysts have recently issued reports on the stock. Citigroup started coverage on shares of Korro Bio in a report on Monday, May 18th. They set a "buy" rating and a $21.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Korro Bio in a report on Monday, July 6th. Wall Street Zen upgraded shares of Korro Bio from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. JonesTrading upgraded shares of Korro Bio from a "hold" rating to a "strong-buy" rating in a report on Friday, May 8th. Finally, Lifesci Capital raised shares of Korro Bio to a "strong-buy" rating in a research report on Friday, May 29th.

Korro Bio Price Performance

Korro Bio stock opened at $13.68 on Thursday. Korro Bio has a one year low of $5.20 and a one year high of $55.89. The stock has a market capitalization of $201.45 million, a PE ratio of -1.37 and a beta of 3.04. The business's fifty day moving average is $12.78 and its 200 day moving average is $12.26.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released 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%. As a group, sell-side analysts expect that Korro Bio will post -4.97 EPS for the current fiscal year.

Insider Transactions at Korro Bio

In related news, COO Todd Chappell sold 3,168 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.83, for a total transaction of $34,309.44. Following the completion of the sale, the chief operating officer owned 16,964 shares in the company, valued at approximately $183,720.12. This represents a 15.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Lynx1 Capital Management Lp bought 5,222 shares of the stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $11.40 per share, for a total transaction of $59,530.80. Following the acquisition, the insider 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 position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 333,777 shares of company stock worth $4,698,208. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KRRO. BlackRock Inc. purchased a new position in shares of Korro Bio during the 2nd quarter valued at $10,776,000. Affinity Asset Advisors LLC purchased a new stake in Korro Bio in the 1st quarter worth $8,002,000. Nantahala Capital Management LLC bought a new stake in Korro Bio during the second quarter valued at about $8,699,274,000. ADAR1 Capital Management LLC bought a new stake in Korro Bio during the second quarter valued at about $7,118,000. Finally, TCG Crossover Management LLC purchased a new position in shares of Korro Bio in the third quarter valued at about $19,937,000. 13.18% of the stock is currently owned by 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.

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