Korro Bio (NASDAQ:KRRO) Receives Neutral Rating from HC Wainwright

HC Wainwright restated their neutral rating on shares of Korro Bio (NASDAQ:KRRO) in a report published on Thursday, MarketBeat reports.

KRRO has been the subject of several other research reports. Raymond James Financial reduced their price objective on shares of Korro Bio from $153.00 to $147.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 13th. Chardan Capital restated a “neutral” rating on shares of Korro Bio in a research report on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Korro Bio in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Korro Bio presently has an average rating of “Hold” and a consensus price target of $76.00.

Korro Bio Price Performance

Shares of KRRO stock traded down $0.43 on Thursday, hitting $6.07. The stock had a trading volume of 2,032,937 shares, compared to its average volume of 209,020. The business has a 50 day moving average of $38.25 and a 200 day moving average of $23.46. Korro Bio has a 12-month low of $5.70 and a 12-month high of $56.69. The stock has a market cap of $57.00 million, a price-to-earnings ratio of -0.65 and a beta of 2.94.

Korro Bio (NASDAQ:KRRO) last issued its quarterly 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 net margin of 1,199.53% and a negative return on equity of 64.00%. The company had revenue of $1.09 million for the quarter, compared to the consensus estimate of $0.41 million. As a group, research analysts expect that Korro Bio will post -9.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Korro Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in shares of 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 during the last quarter. XTX Topco Ltd bought a new stake in shares of Korro Bio during the first quarter valued at approximately $185,000. Blair William & Co. IL raised its holdings in Korro Bio by 25.9% in the 1st quarter. Blair William & Co. IL now owns 16,230 shares of the company’s stock worth $283,000 after acquiring an additional 3,335 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 valued at $318,000 after acquiring an additional 790 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Korro Bio during the first quarter valued at $211,000. Institutional investors own 13.18% of the company’s stock.

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).