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

Key Points

• Analysts give Korro Bio a “Moderate Buy” consensus: six analysts rate it a buy, three a strong buy, two a hold and one a sell. The average 12-month price target is $16.71.
• Insiders sold 306,026 shares worth approximately $4.31 million over the past quarter, while institutional investors—including several new positions—own 13.18% of the company.
• KRRO opened at $10.37, well below its average analyst price target, but the clinical-stage biotech continues to face significant losses after reporting quarterly EPS of negative $1.69 versus estimates of negative $1.60.

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

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Korro Bio in a research report on Monday, July 6th. Citigroup began coverage on Korro Bio in a report on Monday, May 18th. They set a "buy" rating and a $21.00 price objective for the company. HC Wainwright lowered their price objective on Korro Bio from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Lifesci Capital upgraded Korro Bio to a "strong-buy" rating in a report on Friday, May 29th. Finally, Wall Street Zen upgraded Korro Bio from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th.

Insider Buying and Selling

In related news, COO Todd Chappell sold 3,168 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.83, for a total value of $34,309.44. Following the completion of the sale, the chief operating officer directly owned 16,964 shares of the company's stock, valued at approximately $183,720.12. This represents a 15.74% decrease in their position. The transaction was disclosed in a filing with the SEC, 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, Director Jean Francois Formela sold 9,323 shares of the firm's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.96, for a total value of $130,149.08. Following the transaction, the director owned 146,305 shares in the company, valued at approximately $2,042,417.80. This trade represents a 5.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 306,026 shares of company stock valued at $4,309,637. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Affinity Asset Advisors LLC purchased a new position in shares of Korro Bio in the 1st quarter worth approximately $8,002,000. Nantahala Capital Management LLC bought a new position in shares of Korro Bio in the fourth quarter valued at approximately $4,806,000. ADAR1 Capital Management LLC purchased a new stake in shares of Korro Bio during the first quarter valued at approximately $6,113,000. TCG Crossover Management LLC purchased a new stake in shares of Korro Bio during the third quarter valued at approximately $19,937,000. Finally, Kalehua Capital Management LLC purchased a new stake in shares of Korro Bio during the first quarter valued at approximately $1,238,000. 13.18% of the stock is owned by institutional investors.

Korro Bio Trading Down 0.8%

KRRO opened at $10.37 on Friday. Korro Bio has a 1-year low of $5.20 and a 1-year high of $55.89. The company has a market cap of $149.54 million, a price-to-earnings ratio of -0.89 and a beta of 3.00. The company's fifty day moving average price is $12.30 and its two-hundred day moving average price is $11.96.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.60) by ($0.09). Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 117.86%. As a group, equities analysts forecast that Korro Bio will post -5.36 earnings per share for the current fiscal year.

Korro Bio Company Profile

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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