Korro Bio, Inc. (NASDAQ:KRRO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have received an average recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $50.3750.

A number of research firms have weighed in on KRRO. HC Wainwright reaffirmed a “neutral” rating on shares of Korro Bio in a report on Thursday, November 13th. Wall Street Zen cut Korro Bio from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Piper Sandler downgraded Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 target price for the company. in a research report on Thursday, November 13th. Cantor Fitzgerald lowered Korro Bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada cut Korro Bio from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 13th.

Korro Bio Stock Up 2.4%

NASDAQ KRRO opened at $11.76 on Thursday. Korro Bio has a twelve month low of $5.20 and a twelve month high of $55.89. The stock has a market cap of $110.78 million, a P/E ratio of -1.25 and a beta of 2.98. The company’s 50-day simple moving average is $10.83 and its 200 day simple moving average is $20.29.

Institutional Investors Weigh In On Korro Bio

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in Korro Bio during the 3rd quarter valued at about $39,000. Wells Fargo & Company MN grew its stake in Korro Bio by 45.5% during the fourth quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock worth $60,000 after buying an additional 2,352 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Korro Bio during the fourth quarter worth approximately $84,000. Jain Global LLC acquired a new stake in shares of Korro Bio during the fourth quarter worth approximately $85,000. Finally, Deutsche Bank AG raised its stake in shares of Korro Bio by 241.9% in the fourth quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock valued at $102,000 after acquiring an additional 9,027 shares during the last quarter. Institutional investors own 13.18% of the company’s stock.

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.