Korro Bio, Inc. (NASDAQ:KRRO) Receives $66.50 Consensus PT from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have earned a consensus rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $66.50.

Several research firms have recently issued reports on KRRO. Royal Bank Of Canada downgraded shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 13th. Piper Sandler downgraded Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a research note on Friday, January 9th. Cantor Fitzgerald lowered Korro Bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 13th. Finally, Wall Street Zen downgraded Korro Bio from a “hold” rating to a “sell” rating in a report on Saturday, December 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nantahala Capital Management LLC purchased a new stake in Korro Bio during the 4th quarter worth $4,806,000. Marshall Wace LLP acquired a new stake in shares of Korro Bio during the fourth quarter valued at about $158,000. State Street Corp increased its position in shares of Korro Bio by 17.4% during the fourth quarter. State Street Corp now owns 146,221 shares of the company’s stock worth $1,171,000 after acquiring an additional 21,652 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Korro Bio by 45.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock worth $60,000 after acquiring an additional 2,352 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Korro Bio by 85.4% in the fourth quarter. Renaissance Technologies LLC now owns 74,900 shares of the company’s stock valued at $600,000 after purchasing an additional 34,500 shares during the last quarter. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Korro Bio Price Performance

Korro Bio stock opened at $11.17 on Friday. The company has a market cap of $105.19 million, a price-to-earnings ratio of -1.19 and a beta of 2.99. Korro Bio has a 12 month low of $5.20 and a 12 month high of $55.89. The stock’s 50-day moving average is $9.56 and its 200-day moving average is $21.03.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Wednesday, November 12th. The company reported ($1.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.61) by $0.69. The firm had revenue of $1.09 million during the quarter, compared to the consensus estimate of $0.41 million. Korro Bio had a negative net margin of 1,199.53% and a negative return on equity of 68.87%. Research analysts anticipate that Korro Bio will post -9.52 EPS for the current year.

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.