Korro Bio's (KRRO) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Korro Bio's stock received a reaffirmed sell (D-) rating from Weiss Ratings in a recent report, indicating ongoing concerns about the company's performance.
• The company's stock price has seen substantial volatility, with a 52-week range between $10.29 and $98.00, currently trading around $46.44.
• Despite the sell rating, some analysts remain bullish, with two providing a Strong Buy rating and a consensus average target price of $86.83 among eight ratings.

Korro Bio (NASDAQ:KRRO - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

Other equities research analysts have also issued reports about the stock. Raymond James Financial dropped their price objective on shares of Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating on the stock in a report on Wednesday, August 13th. HC Wainwright decreased their target price on shares of Korro Bio from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Finally, Chardan Capital restated a "buy" rating and set a $25.00 target price on shares of Korro Bio in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $86.83.

Korro Bio Price Performance

NASDAQ KRRO traded up $0.73 on Tuesday, hitting $46.44. The stock had a trading volume of 45,410 shares, compared to its average volume of 142,449. The business's fifty day moving average price is $30.25 and its 200 day moving average price is $19.87. Korro Bio has a 52-week low of $10.29 and a 52-week high of $98.00. The stock has a market cap of $436.07 million, a price-to-earnings ratio of -4.76 and a beta of 2.89.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($2.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.54) by ($0.20). The business had revenue of $1.46 million for the quarter, compared to analyst estimates of $0.41 million. As a group, sell-side analysts anticipate that Korro Bio will post -9.52 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds have recently made changes to their positions in KRRO. GAMMA Investing LLC boosted its position in shares of Korro Bio by 128,950.0% during the 1st quarter. GAMMA Investing LLC now owns 10,324 shares of the company's stock worth $180,000 after purchasing an additional 10,316 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Korro Bio by 9.0% in the 1st quarter. Bank of New York Mellon Corp now owns 16,113 shares of the company's stock valued at $281,000 after purchasing an additional 1,325 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Korro Bio in the 1st quarter valued at $185,000. Blair William & Co. IL raised its holdings in shares of Korro Bio by 25.9% in the 1st quarter. Blair William & Co. IL now owns 16,230 shares of the company's stock valued at $283,000 after purchasing an additional 3,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Korro Bio by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company's stock valued at $318,000 after purchasing an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 13.18% of the company's stock.

About Korro Bio

Korro Bio, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of genetic medicines based on editing RNA for the treatment of rare and highly prevalent diseases primarily in the United States. Its lead product candidate is KRRO-110 which is in preclinical trials for the treatment of Alpha-1 Antitrypsin Deficiency (AATD).

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