Korro Bio (NASDAQ:KRRO) Stock Rating Upgraded by Lifesci Capital

Korro Bio (NASDAQ:KRRO) was upgraded by equities research analysts at Lifesci Capital to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

KRRO has been the topic of several other research reports. Wall Street Zen raised Korro Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Raymond James Financial raised Korro Bio from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Friday, March 13th. Clear Str raised Korro Bio from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Citigroup began coverage on Korro Bio in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Korro Bio in a research note on Wednesday, April 8th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Korro Bio presently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Korro Bio Price Performance

KRRO stock opened at $13.41 on Friday. The firm has a market capitalization of $193.41 million, a P/E ratio of -1.15 and a beta of 3.07. The business’s 50-day moving average is $12.33 and its two-hundred day moving average is $10.92. Korro Bio has a 1 year low of $5.20 and a 1 year high of $55.89.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.09). Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 117.86%. On average, analysts expect that Korro Bio will post -5.38 EPS for the current year.

Insider Buying and Selling

In other Korro Bio news, major shareholder Anthony A. Jr. Florence bought 207,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $11.11 per share, for a total transaction of $2,300,881.00. Following the completion of the purchase, the insider owned 1,297,893 shares of the company’s stock, valued at $14,419,591.23. This trade represents a 18.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Edward T. Mathers bought 207,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $11.11 per share, with a total value of $2,300,881.00. Following the completion of the purchase, the insider directly owned 1,297,893 shares of the company’s stock, valued at approximately $14,419,591.23. The trade was a 18.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 1,657,320 shares of company stock valued at $18,412,560. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in shares of Korro Bio in the third quarter worth about $39,000. Wells Fargo & Company MN raised its holdings in Korro Bio by 45.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock valued at $60,000 after acquiring an additional 2,352 shares in the last quarter. Guggenheim Capital LLC bought a new position in shares of Korro Bio during the fourth quarter worth about $84,000. Jain Global LLC bought a new position in Korro Bio during the 4th quarter worth approximately $85,000. Finally, Deutsche Bank AG lifted its holdings in Korro Bio by 241.9% during the 4th quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock worth $102,000 after buying an additional 9,027 shares during the last quarter. 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 focused on harnessing advanced protein engineering and synthetic biology to develop novel enzyme therapies and live microbial therapeutics. The company’s proprietary platform integrates directed evolution, high-throughput screening and computational design to optimize biological catalysts for a wide range of applications. By combining machine learning with experimental biology, Korro Bio seeks to accelerate the discovery and development of next-generation treatments for rare genetic disorders and complex metabolic diseases.

The company’s pipeline features both engineered enzyme therapeutics and live biotherapeutics.