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

Key Points

• Insider sale: SVP Oliver Dolan sold 7,347 Korro Bio shares at an average $13.51, generating $99,258 and reducing his position by 31.13%. He retained 16,252 shares after the transaction.
• Stock performance and finances: KRRO rose 1.0% to $13.06, with a market capitalization of approximately $192 million. The company reported a quarterly EPS loss of $1.07, beating estimates, but continues to post substantial negative margins and return on equity.
• Analyst sentiment: Korro Bio has a consensus “Moderate Buy” rating and an average price target of $16.71, although ratings range from “Strong Buy” to “Sell.” Institutional investors own 13.18% of the company.

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

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

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

Korro Bio Stock Up 1.0%

NASDAQ:KRRO traded up $0.13 during mid-day trading on Thursday, hitting $13.06. 145,793 shares of the company traded hands, compared to its average volume of 187,756. The stock's fifty day moving average price is $12.64 and its 200-day moving average price is $12.31. The firm has a market cap of $192.37 million, a price-to-earnings ratio of -1.31 and a beta of 3.09. Korro Bio, Inc. has a one year low of $5.20 and a one year high of $55.89.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released 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. Korro Bio had a negative return on equity of 114.26% and a negative net margin of 1,834.48%. Equities analysts predict that Korro Bio, Inc. will post -4.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KRRO. Lifesci Capital raised 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 research report on Saturday, August 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Korro Bio in a report on Monday, July 6th. HC Wainwright restated a "buy" rating and set a $15.00 price target on shares of Korro Bio in a research note on Thursday, August 20th. Finally, Citigroup began coverage on Korro Bio in a report on Monday, May 18th. They issued a "buy" rating and a $21.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Korro Bio has an average rating of "Moderate Buy" and an average price target of $16.71.

Institutional Investors Weigh In On Korro Bio

Several institutional investors have recently bought and sold shares of the company. Kalehua Capital Management LLC purchased a new stake in shares of Korro Bio during the first quarter worth $1,238,000. ADAR1 Capital Management LLC acquired a new position in shares of Korro Bio in the 2nd quarter valued at $7,118,000. BlackRock Inc. acquired a new position in Korro Bio in the second quarter valued at about $10,776,000. Affinity Asset Advisors LLC purchased a new position in shares of Korro Bio during the 1st quarter worth approximately $8,002,000. Finally, Renaissance Technologies LLC boosted its position in shares of Korro Bio by 81.9% during the first quarter. Renaissance Technologies LLC now owns 136,227 shares of the company's stock worth $1,542,000 after buying an additional 61,327 shares during the period. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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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