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

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have earned an average recommendation of “Hold” from the ten research firms that are presently covering the stock, MarketBeat reports. One 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 12-month target price among brokerages that have issued ratings on the stock in the last year is $66.50.

KRRO has been the topic of several research reports. Chardan Capital raised Korro Bio from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Thursday, January 29th. Jones Trading cut Korro Bio from a “buy” rating to a “hold” rating in a research report on Friday, November 14th. HC Wainwright reaffirmed a “neutral” rating on shares of Korro Bio 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 Friday, January 9th. Finally, Wall Street Zen lowered shares of Korro Bio from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th.

Korro Bio Stock Up 8.9%

Shares of Korro Bio stock opened at $12.57 on Friday. Korro Bio has a 52 week low of $5.20 and a 52 week high of $55.89. The firm’s 50 day moving average is $8.97 and its two-hundred day moving average is $21.17. The firm has a market capitalization of $118.41 million, a P/E ratio of -1.34 and a beta of 2.99.

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

Hedge Funds Weigh In On Korro Bio

Institutional investors have recently added to or reduced their stakes in the stock. TCG Crossover Management LLC purchased a new position in Korro Bio in the 3rd quarter valued at $19,937,000. JPMorgan Chase & Co. grew its holdings in Korro Bio by 6,185.5% in the third quarter. JPMorgan Chase & Co. now owns 199,249 shares of the company’s stock valued at $9,542,000 after purchasing an additional 196,079 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Korro Bio in the 3rd quarter valued at about $4,319,000. Raymond James Financial Inc. grew its position in shares of Korro Bio by 78.6% in the third quarter. Raymond James Financial Inc. now owns 148,971 shares of the company’s stock valued at $7,134,000 after purchasing an additional 65,579 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Korro Bio during the 3rd quarter valued at $2,821,000. Institutional investors and hedge funds own 13.18% of the company’s stock.

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.