Korro Bio (NASDAQ:KRRO) Stock Rating Upgraded by Clear Str

Korro Bio (NASDAQ:KRRO) was upgraded by Clear Str from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

KRRO has been the subject of a number of other reports. Cantor Fitzgerald lowered shares of Korro Bio from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 13th. William Blair upgraded shares of Korro Bio from a “market perform” rating to an “outperform” rating in a research note on Tuesday. HC Wainwright restated a “neutral” rating on shares of Korro Bio in a research report on Thursday, November 13th. Piper Sandler downgraded Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Korro Bio presently has a consensus rating of “Hold” and a consensus target price of $50.38.

Korro Bio Stock Down 0.9%

KRRO traded down $0.11 during trading on Wednesday, reaching $11.59. 15,912 shares of the company were exchanged, compared to its average volume of 244,534. The company’s 50-day moving average is $9.86 and its two-hundred day moving average is $20.89. The company has a market cap of $109.20 million, a price-to-earnings ratio of -1.24 and a beta of 2.99. Korro Bio has a 12-month low of $5.20 and a 12-month high of $55.89.

Institutional Trading of Korro Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in shares of Korro Bio during the third quarter worth approximately $39,000. Wells Fargo & Company MN raised its position in Korro Bio by 45.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock worth $60,000 after purchasing an additional 2,352 shares during the period. Guggenheim Capital LLC bought a new stake in Korro Bio in the fourth quarter worth $84,000. Jain Global LLC purchased a new stake in Korro Bio during the fourth quarter valued at about $85,000. Finally, Deutsche Bank AG grew its stake in shares of Korro Bio by 241.9% during the fourth quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock valued at $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.