Korro Bio’s (KRRO) Hold Rating Reaffirmed at Jones Trading

Korro Bio (NASDAQ:KRRO)‘s stock had its “hold” rating reissued by research analysts at Jones Trading in a research note issued on Friday,Benzinga reports.

A number of other analysts have also recently weighed in on KRRO. Cantor Fitzgerald cut Korro Bio from an “overweight” rating to a “neutral” rating in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a report on Tuesday, October 14th. Raymond James Financial downgraded shares of Korro Bio from a “strong-buy” rating to a “market perform” rating in a research report on Thursday. HC Wainwright reaffirmed a “neutral” rating on shares of Korro Bio in a report on Thursday. Finally, Royal Bank Of Canada downgraded Korro Bio from an “outperform” rating to a “sector perform” rating in a research report on Thursday. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $76.00.

Korro Bio Stock Down 1.2%

NASDAQ:KRRO traded down $0.08 during midday trading on Friday, hitting $6.42. The stock had a trading volume of 1,143,647 shares, compared to its average volume of 204,642. Korro Bio has a one year low of $5.70 and a one year high of $56.69. The company has a market capitalization of $60.27 million, a price-to-earnings ratio of -0.68 and a beta of 2.94. The stock has a 50-day moving average of $38.25 and a 200 day moving average of $23.46.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($1.92) earnings per share for the quarter, topping the consensus estimate of ($2.61) by $0.69. The firm had revenue of $1.09 million during 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%. On average, sell-side analysts anticipate that Korro Bio will post -9.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Korro Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in shares of Korro Bio in the third quarter valued at about $39,000. Quarry LP purchased a new position in shares of Korro Bio during the 1st quarter worth approximately $35,000. CWM LLC raised its holdings in shares of Korro Bio by 391.4% in the 3rd quarter. CWM LLC now owns 2,693 shares of the company’s stock valued at $129,000 after buying an additional 2,145 shares during the period. PNC Financial Services Group Inc. purchased a new stake in Korro Bio during the third quarter worth about $140,000. Finally, Wealth Forward LLC purchased a new stake in Korro Bio during the 3rd quarter worth about $240,000. Institutional investors and hedge funds 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).