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

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have received an average rating of “Hold” from the eleven analysts that are covering the company, MarketBeat.com reports. One investment 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 price objective among brokerages that have updated their coverage on the stock in the last year is $50.3750.

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of Korro Bio from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Royal Bank Of Canada lowered shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 13th. Cantor Fitzgerald cut shares of Korro Bio from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 13th. Chardan Capital raised Korro Bio from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Thursday, January 29th. Finally, Clear Str upgraded Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th.

Hedge Funds Weigh In On Korro Bio

Hedge funds have recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust acquired a new position in Korro Bio during the 3rd quarter valued at approximately $2,821,000. CWM LLC increased its position in Korro Bio by 391.4% in the third quarter. CWM LLC now owns 2,693 shares of the company’s stock worth $129,000 after buying an additional 2,145 shares during the period. Deutsche Bank AG lifted its stake in 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 buying an additional 9,027 shares during the last quarter. Jain Global LLC acquired a new position in shares of Korro Bio during the fourth quarter valued at $85,000. Finally, Guggenheim Capital LLC acquired a new position in shares of Korro Bio during the fourth quarter valued at $84,000. Institutional investors and hedge funds own 13.18% of the company’s stock.

Korro Bio Stock Up 3.7%

Shares of KRRO opened at $11.15 on Thursday. The firm has a market cap of $105.03 million, a price-to-earnings ratio of -1.18 and a beta of 2.98. The business’s 50 day moving average is $10.48 and its two-hundred day moving average is $20.58. Korro Bio has a 52-week low of $5.20 and a 52-week high of $55.89.

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.