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

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

A number of other equities research analysts have also recently issued reports on the company. Cantor Fitzgerald raised their target price on Korro Bio from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. William Blair upgraded shares of Korro Bio from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 17th. Chardan Capital upgraded shares of Korro Bio from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Thursday, January 29th. Wall Street Zen upgraded shares of Korro Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, JonesTrading upgraded shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.71.

Korro Bio Trading Up 0.1%

Shares of Korro Bio stock opened at $13.41 on Friday. The business’s 50 day simple moving average is $12.33 and its 200-day simple moving average is $10.92. The stock has a market capitalization of $193.41 million, a price-to-earnings ratio of -1.15 and a beta of 3.07. Korro Bio has a twelve month low of $5.20 and a twelve month high of $55.89.

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

Insider Transactions at Korro Bio

In other Korro Bio news, major shareholder Anthony A. Jr. Florence bought 207,100 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average cost of $11.11 per share, for a total transaction of $2,300,881.00. Following the transaction, the insider directly owned 1,297,893 shares in the company, valued at $14,419,591.23. The trade was a 18.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Forest Baskett bought 207,100 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $11.11 per share, for a total transaction of $2,300,881.00. Following the completion of the transaction, the insider owned 1,297,893 shares in the company, valued at $14,419,591.23. This trade represents a 18.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 1,657,320 shares of company stock worth $18,412,560 over the last quarter. Insiders own 4.80% of the company’s stock.

Institutional Trading of Korro Bio

Several large investors have recently added to or reduced their stakes in KRRO. Geode Capital Management LLC increased its position in Korro Bio by 10.8% in the 2nd quarter. Geode Capital Management LLC now owns 155,387 shares of the company’s stock valued at $1,941,000 after acquiring an additional 15,166 shares during the period. Raymond James Financial Inc. increased its position in shares of Korro Bio by 357.6% during the 2nd quarter. Raymond James Financial Inc. now owns 83,392 shares of the company’s stock valued at $1,042,000 after purchasing an additional 65,170 shares during the period. Bank of America Corp DE increased its position in shares of Korro Bio by 520.0% during the 2nd quarter. Bank of America Corp DE now owns 28,156 shares of the company’s stock valued at $352,000 after purchasing an additional 23,615 shares during the period. Wealth Forward LLC acquired a new position in shares of Korro Bio during the 3rd quarter valued at $240,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Korro Bio during the 3rd quarter valued at $140,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

About Korro Bio

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.