Korro Bio (NASDAQ:KRRO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Korro Bio (NASDAQ:KRRO) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Several other research analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Korro Bio in a research note on Tuesday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Korro Bio in a research note on Friday, October 2nd. Finally, Jefferies Financial Group set a $15.00 price objective on shares of Korro Bio in a report on Tuesday, October 6th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Korro Bio presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Korro Bio Stock Up 1.4%

Shares of KRRO stock opened at $14.96 on Friday. The business’s fifty day moving average is $11.66 and its 200 day moving average is $12.08. Korro Bio has a twelve month low of $5.20 and a twelve month high of $36.79.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.16. Analysts forecast that Korro Bio will post -4.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Korro Bio news, Director Jean Formela sold 28,468 shares of Korro Bio stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $14.00, for a total value of $398,552.00. Following the completion of the sale, the director owned 141,053 shares of the company’s stock, valued at approximately $1,974,742. This trade represents a 16.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Lynx1 Capital Management Lp purchased 25,124 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was acquired at an average price of $11.75 per share, with a total value of $295,207.00. Following the purchase, the insider directly owned 1,624,789 shares of the company’s stock, valued at approximately $19,091,270.75. The trade was a 1.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 79,809 shares of company stock valued at $884,919 and sold 36,126 shares valued at $502,148. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Korro Bio during the 2nd quarter valued at about $10,776,000. Affinity Asset Advisors LLC purchased a new stake in shares of Korro Bio during the 1st quarter valued at about $8,002,000. Nantahala Capital Management LLC bought a new stake in shares of Korro Bio in the second quarter worth approximately $8,699,274. ADAR1 Capital Management LLC bought a new stake in shares of Korro Bio in the second quarter worth approximately $7,118,000. Finally, Kalehua Capital Management LLC purchased a new position in shares of Korro Bio during the first quarter valued at approximately $1,238,000. Hedge funds and other institutional investors own 13.18% of the company’s stock.

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.