Korro Bio, Inc. (NASDAQ:KRRO) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts are broadly positive: Korro Bio has a “Moderate Buy” consensus from 12 analysts, including six Buy and three Strong Buy ratings. The average 1-year price target is $16.50.
• Quarterly loss was smaller than expected: The company reported a loss of $0.98 per share, beating the consensus estimate of a $1.14 loss by $0.16.
• Korro Bio is a clinical-stage biotech: It develops RNA-editing medicines, with lead candidate KRRO-110 in development for alpha-1 antitrypsin deficiency.

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twelve analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and three have issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $16.50.

A number of brokerages have recently weighed in on KRRO. Weiss Ratings restated a "sell (d-)" rating on shares of Korro Bio in a research note on Friday, October 2nd. Jefferies Financial Group set a $15.00 price target on shares of Korro Bio in a research note on Tuesday, October 6th. Wall Street Zen upgraded Korro Bio from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, HC Wainwright reiterated a "buy" rating and set a $15.00 target price on shares of Korro Bio in a research report on Tuesday, October 6th.

Insider Buying and Selling

In other Korro Bio news, SVP Oliver Dolan sold 7,347 shares of Korro Bio stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $13.51, for a total transaction of $99,257.97. Following the transaction, the senior vice president directly owned 16,252 shares in the company, valued at approximately $219,564.52. The trade was a 31.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jean Formela sold 28,468 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $14.00, for a total transaction of $398,552.00. Following the sale, the director directly owned 141,053 shares of the company's stock, valued at $1,974,742. This represents a 16.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders bought 79,809 shares of company stock worth $884,919 and sold 36,126 shares worth $502,148. Corporate insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Korro Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Korro Bio in the 2nd quarter valued at about $10,776,000. Kalehua Capital Management LLC bought a new position in shares of Korro Bio in the 1st quarter valued at $1,238,000. ADAR1 Capital Management LLC bought a new position in Korro Bio in the second quarter valued at about $7,118,000. Nantahala Capital Management LLC acquired a new stake in Korro Bio during the 2nd quarter worth approximately $8,699,274. Finally, Renaissance Technologies LLC increased its holdings in Korro Bio by 81.9% in the first quarter. Renaissance Technologies LLC now owns 136,227 shares of the company's stock valued at $1,542,000 after purchasing an additional 61,327 shares during the period. Institutional investors own 13.18% of the company's stock.

Korro Bio Stock Performance

Shares of NASDAQ:KRRO opened at $14.96 on Tuesday. The stock has a market capitalization of $220.36 million, a price-to-earnings ratio of -1.65 and a beta of 3.23. The company has a 50 day moving average price of $11.66 and a 200 day moving average price of $12.08. Korro Bio has a 1-year low of $5.20 and a 1-year high of $36.79.

Korro Bio (NASDAQ:KRRO - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.16. On average, sell-side analysts expect that Korro Bio will post -4.92 EPS for the current fiscal year.

Korro Bio Company Profile

Korro Bio, Inc is a clinical-stage biotechnology company developing RNA editing medicines for genetically driven diseases. The company's approach is designed to make targeted changes to messenger RNA, potentially correcting or altering disease-related genetic instructions without permanently changing a patient's DNA.

Korro Bio's technology platform uses programmable oligonucleotides to guide RNA editing in specific cells and tissues. Its lead development program, KRRO-110, is being developed for alpha-1 antitrypsin deficiency, an inherited disorder caused by mutations in the SERPINA1 gene that can lead to liver and lung disease.

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