Korro Bio (NASDAQ:KRRO) Rating Lowered to “Neutral” at Cantor Fitzgerald

Korro Bio (NASDAQ:KRRO) was downgraded by equities researchers at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat.com reports.

KRRO has been the topic of a number of other reports. Piper Sandler lowered shares of Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research note on Thursday. William Blair lowered shares of Korro Bio from an “outperform” rating to a “market perform” rating in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a research report on Tuesday, October 14th. Raymond James Financial lowered Korro Bio from a “strong-buy” rating to a “market perform” rating in a report on Thursday. Finally, HC Wainwright reissued a “neutral” rating on shares of Korro Bio in a research note on Thursday. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Korro Bio presently has a consensus rating of “Hold” and an average target price of $76.00.

Korro Bio Stock Performance

Shares of Korro Bio stock opened at $6.07 on Thursday. The stock has a market capitalization of $57.18 million, a PE ratio of -0.65 and a beta of 2.94. Korro Bio has a 52 week low of $5.70 and a 52 week high of $56.69. The stock has a 50 day moving average price of $37.71 and a two-hundred day moving average price of $23.38.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Wednesday, November 12th. The company reported ($1.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.61) by $0.69. Korro Bio had a negative return on equity of 68.87% and a negative net margin of 1,199.53%.The company had revenue of $1.09 million for the quarter, compared to analyst estimates of $0.41 million. Research analysts forecast that Korro Bio will post -9.52 EPS for the current year.

Institutional Investors Weigh In On Korro Bio

Large investors have recently made changes to their positions in the business. Driehaus Capital Management LLC increased its holdings in Korro Bio by 17.7% during the first quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company’s stock worth $10,140,000 after buying an additional 87,544 shares during the last quarter. Vanguard Group Inc. raised its stake in Korro Bio by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 395,659 shares of the company’s stock valued at $18,948,000 after acquiring an additional 8,921 shares during the period. Cormorant Asset Management LP purchased a new stake in Korro Bio during the first quarter valued at about $6,621,000. JPMorgan Chase & Co. boosted its position in Korro Bio by 6,185.5% during the third quarter. JPMorgan Chase & Co. now owns 199,249 shares of the company’s stock worth $9,542,000 after purchasing an additional 196,079 shares during the period. Finally, Geode Capital Management LLC boosted its position in Korro Bio by 10.8% during the second 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 period. 13.18% of the stock is owned by hedge funds and other institutional investors.

Korro Bio Company Profile

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).