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

Key Points

• Analysts give Korro Bio a consensus "Moderate Buy" from 11 analysts with a one‑year average target of about $37.29 (ratings: 1 sell, 4 hold, 5 buy, 1 strong buy).
• Insiders made large purchases — Forest Baskett and Mohamad Makhzoumi each bought 207,100 shares at $11.11 on March 10, and insiders bought 1,657,320 shares (~$18.41M) over 90 days, raising insider ownership to 4.60%.
• Recent results showed a significant EPS miss (‑$5.32 vs. ‑$1.93 expected) despite revenue above estimates, leaving Korro with extreme negative net margins and a negative return on equity.

Shares of Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) have earned an average rating of "Moderate Buy" from the eleven analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $37.2857.

Several analysts have commented on the stock. William Blair raised shares of Korro Bio from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 17th. Clear Str raised shares of Korro Bio from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Raymond James Financial raised shares of Korro Bio from a "market perform" rating to an "outperform" rating and set a $23.00 price target on the stock in a report on Friday, March 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Korro Bio in a report on Wednesday, April 8th. Finally, Chardan Capital raised shares of Korro Bio from a "neutral" rating to a "buy" rating and set a $15.00 price target on the stock in a report on Thursday, January 29th.

Insider Buying and Selling at Korro Bio

In other news, major shareholder Forest Baskett bought 207,100 shares of the stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $11.11 per share, with a total value of $2,300,881.00. Following the purchase, the insider directly owned 1,297,893 shares in the company, valued at $14,419,591.23. The trade was a 18.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Mohamad Makhzoumi bought 207,100 shares of the stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $11.11 per share, for a total transaction of $2,300,881.00. Following the completion of the purchase, the insider owned 1,297,893 shares in the company, valued at approximately $14,419,591.23. This represents a 18.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 1,657,320 shares of company stock worth $18,412,560. 4.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KRRO. Geode Capital Management LLC raised its position in shares of Korro Bio by 10.8% during the 2nd quarter. Geode Capital Management LLC now owns 155,387 shares of the company's stock worth $1,941,000 after purchasing an additional 15,166 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of Korro Bio by 357.6% during the 2nd quarter. Raymond James Financial Inc. now owns 83,392 shares of the company's stock worth $1,042,000 after purchasing an additional 65,170 shares during the last quarter. Bank of America Corp DE raised its position in shares of Korro Bio by 520.0% during the 2nd quarter. Bank of America Corp DE now owns 28,156 shares of the company's stock worth $352,000 after purchasing an additional 23,615 shares during the last quarter. CWM LLC raised its position in shares of Korro Bio by 391.4% during the 3rd quarter. CWM LLC now owns 2,693 shares of the company's stock worth $129,000 after purchasing an additional 2,145 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Korro Bio during the 3rd quarter worth about $2,821,000. Institutional investors and hedge funds own 13.18% of the company's stock.

Korro Bio Trading Down 2.8%

NASDAQ KRRO opened at $13.60 on Friday. The firm's fifty day simple moving average is $12.17 and its two-hundred day simple moving average is $16.01. Korro Bio has a 12-month low of $5.20 and a 12-month high of $55.89. The firm has a market capitalization of $196.11 million, a P/E ratio of -1.09 and a beta of 3.20.

Korro Bio (NASDAQ:KRRO - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($5.32) earnings per share for the quarter, missing analysts' consensus estimates of ($1.93) by ($3.39). The company had revenue of $1.29 million for the quarter, compared to analysts' expectations of $0.43 million. Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 115.95%. As a group, sell-side analysts predict that Korro Bio will post -5.44 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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