Korro Bio (NASDAQ:KRRO) Receives “Hold” Rating from Jones Trading

Korro Bio (NASDAQ:KRRO)‘s stock had its “hold” rating reaffirmed by research analysts at Jones Trading in a research report issued to clients and investors on Friday,Benzinga reports.

Other analysts have also issued reports about the company. Royal Bank Of Canada lowered Korro Bio from an “outperform” rating to a “sector perform” rating in a report on Thursday. Raymond James Financial lowered shares of Korro Bio from a “strong-buy” rating to a “market perform” rating in a report on Thursday. Cantor Fitzgerald downgraded shares of Korro Bio from an “overweight” rating to a “neutral” rating in a report on Thursday. William Blair lowered shares of Korro Bio from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Piper Sandler cut 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 report on Thursday. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.00.

Korro Bio Price Performance

Shares of KRRO stock traded down $0.08 on Friday, hitting $6.42. 1,143,647 shares of the company’s stock were exchanged, compared to its average volume of 204,642. The company has a 50 day moving average of $38.25 and a 200 day moving average of $23.46. The stock has a market cap of $60.27 million, a P/E ratio of -0.68 and a beta of 2.94. Korro Bio has a 12 month low of $5.70 and a 12 month high of $56.69.

Korro Bio (NASDAQ:KRRO) last posted 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. The firm had revenue of $1.09 million for the quarter, compared to analysts’ expectations of $0.41 million. Korro Bio had a negative net margin of 1,199.53% and a negative return on equity of 64.00%. Sell-side analysts predict that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Trading of Korro Bio

A number of hedge funds have recently made changes to their positions in KRRO. Bank of New York Mellon Corp boosted its holdings in Korro Bio by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 16,113 shares of the company’s stock worth $281,000 after acquiring an additional 1,325 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Korro Bio by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company’s stock worth $318,000 after buying an additional 790 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in Korro Bio by 17.7% during the 1st quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company’s stock valued at $10,140,000 after acquiring an additional 87,544 shares during the period. Aberdeen Group plc purchased a new stake in shares of Korro Bio during the 1st quarter valued at about $1,470,000. Finally, Cormorant Asset Management LP purchased a new position in shares of Korro Bio during the first quarter valued at approximately $6,621,000. 13.18% of the stock is owned by institutional investors.

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).