Korro Bio (NASDAQ:KRRO) Cut to Market Perform at William Blair

William Blair lowered shares of Korro Bio (NASDAQ:KRRO) from an outperform rating to a market perform rating in a research note released on Thursday morning, Marketbeat.com reports.

KRRO has been the subject of several other research reports. Raymond James Financial decreased their target price on 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a research report on Tuesday, October 14th. Piper Sandler downgraded shares of Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research report on Thursday. Chardan Capital reissued a “neutral” rating on shares of Korro Bio in a research note on Thursday. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Korro Bio in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $76.00.

Korro Bio Stock Down 6.6%

KRRO opened at $6.07 on Thursday. Korro Bio has a twelve month low of $5.70 and a twelve month high of $56.69. The company has a fifty day moving average of $37.71 and a 200-day moving average of $23.43. The stock has a market cap of $57.18 million, a PE 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) EPS for the quarter, beating 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 68.87%. The business had revenue of $1.09 million for the quarter, compared to analysts’ expectations of $0.41 million. Sell-side analysts anticipate that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Investors 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 increased its holdings in Korro Bio by 9.0% during the 1st quarter. Bank of New York Mellon Corp now owns 16,113 shares of the company’s stock worth $281,000 after purchasing an additional 1,325 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Korro Bio by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company’s stock valued at $318,000 after buying an additional 790 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Korro Bio by 17.7% during the first quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company’s stock worth $10,140,000 after buying an additional 87,544 shares in the last quarter. Aberdeen Group plc purchased a new stake in Korro Bio in the 1st quarter valued at $1,470,000. Finally, Cormorant Asset Management LP purchased a new stake in Korro Bio in the 1st quarter valued at $6,621,000. 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).