Korro Bio, Inc. (NASDAQ:KRRO) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.71.

Several equities analysts have commented on KRRO shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Korro Bio in a research report on Monday, July 6th. Wall Street Zen raised shares of Korro Bio from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Finally, HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Korro Bio in a report on Thursday, August 20th.

Insider Activity

In other Korro Bio news, major shareholder Lynx1 Capital Management Lp bought 5,222 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $11.40 per share, for a total transaction of $59,530.80. Following the transaction, the insider owned 1,543,518 shares in the company, valued at approximately $17,596,105.20. This trade represents a 0.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Oliver Dolan sold 7,347 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $13.51, for a total value of $99,257.97. Following the completion of the transaction, the senior vice president directly owned 16,252 shares in the company, valued at $219,564.52. The trade was a 31.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 148,292 shares of company stock valued at $2,075,035. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRRO. BlackRock Inc. acquired a new stake in shares of Korro Bio during the 2nd quarter valued at $10,776,000. Affinity Asset Advisors LLC bought a new stake in Korro Bio during the first quarter valued at $8,002,000. Nantahala Capital Management LLC acquired a new position in shares of Korro Bio during the 2nd quarter valued at $8,699,274. ADAR1 Capital Management LLC acquired a new stake in shares of Korro Bio in the 2nd quarter valued at about $7,118,000. Finally, Kalehua Capital Management LLC acquired a new stake in Korro Bio in the first quarter valued at approximately $1,238,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Korro Bio Price Performance

Shares of KRRO opened at $9.57 on Monday. Korro Bio has a 52-week low of $5.20 and a 52-week high of $55.89. The firm has a market capitalization of $140.97 million, a PE ratio of -0.96 and a beta of 3.09. The firm has a 50-day moving average price of $12.14 and a 200 day moving average price of $12.32.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.27. Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 114.26%. On average, equities analysts expect that Korro Bio will post -4.95 EPS for the current year.

About Korro Bio

Korro Bio, Inc is a clinical-stage biotechnology company focused on developing RNA-editing medicines for genetic diseases. The company’s approach is designed to make precise changes to messenger RNA (mRNA), potentially correcting disease-causing genetic mutations without permanently altering a patient’s DNA.

Korro’s technology platform uses short, chemically modified oligonucleotides to guide naturally occurring RNA-editing enzymes, including adenosine deaminase acting on RNA (ADAR), to targeted RNA sequences.