Korro Bio, Inc. (NASDAQ:KRRO) Receives Consensus Rating of “Hold” from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have been given a consensus rating of “Hold” by the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $76.00.

A number of equities analysts have commented on KRRO shares. Royal Bank Of Canada downgraded shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Korro Bio in a research note on Tuesday, October 14th. Cantor Fitzgerald cut shares of Korro Bio from an “overweight” rating to a “neutral” rating in a report on Thursday, November 13th. Wall Street Zen upgraded shares of Korro Bio from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Raymond James Financial cut Korro Bio from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, November 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in Korro Bio by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company’s stock worth $318,000 after acquiring an additional 790 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Korro Bio during the 3rd quarter worth $39,000. Bank of New York Mellon Corp grew its stake in shares of 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 during the period. Quarry LP purchased a new position in shares of Korro Bio in the 1st quarter valued at about $35,000. Finally, CWM LLC increased its holdings in shares of Korro Bio by 391.4% in the 3rd quarter. CWM LLC now owns 2,693 shares of the company’s stock valued at $129,000 after purchasing an additional 2,145 shares in the last quarter. Institutional investors and hedge funds own 13.18% of the company’s stock.

Korro Bio Trading Down 6.1%

Shares of KRRO stock opened at $5.90 on Tuesday. The company has a market capitalization of $55.58 million, a P/E ratio of -0.63 and a beta of 2.94. The business’s 50 day moving average is $34.43 and its two-hundred day moving average is $23.02. Korro Bio has a twelve month low of $5.70 and a twelve month high of $56.69.

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

About Korro Bio

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).