Korro Bio (NASDAQ:KRRO) Upgraded to Outperform at William Blair

William Blair upgraded shares of Korro Bio (NASDAQ:KRRO) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports.

A number of other research firms have also recently commented on KRRO. Cantor Fitzgerald cut Korro Bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 13th. Raymond James Financial reaffirmed a “market perform” rating on shares of Korro Bio in a research report on Wednesday, January 28th. Chardan Capital raised shares of Korro Bio from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday, January 29th. JonesTrading lowered shares of Korro Bio from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Korro Bio in a research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $66.50.

Korro Bio Trading Up 2.8%

Shares of KRRO opened at $11.48 on Tuesday. The stock has a 50 day moving average of $9.72 and a 200 day moving average of $21.02. The company has a market capitalization of $108.14 million, a price-to-earnings ratio of -1.22 and a beta of 2.99. Korro Bio has a 12 month low of $5.20 and a 12 month high of $55.89.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. AlphaQuest LLC raised its holdings in Korro Bio by 195.9% during the 2nd quarter. AlphaQuest LLC now owns 27,211 shares of the company’s stock valued at $340,000 after acquiring an additional 18,015 shares during the period. Geode Capital Management LLC raised its stake in shares of Korro Bio by 10.8% during the 2nd quarter. Geode Capital Management LLC now owns 155,387 shares of the company’s stock valued at $1,941,000 after purchasing an additional 15,166 shares during the period. Raymond James Financial Inc. lifted its holdings in Korro Bio by 357.6% during the 2nd quarter. Raymond James Financial Inc. now owns 83,392 shares of the company’s stock worth $1,042,000 after purchasing an additional 65,170 shares in the last quarter. Bank of America Corp DE boosted its stake in Korro Bio by 520.0% in the 2nd quarter. Bank of America Corp DE now owns 28,156 shares of the company’s stock worth $352,000 after purchasing an additional 23,615 shares during the period. Finally, CWM LLC grew its holdings in Korro Bio by 391.4% during the 3rd quarter. CWM LLC now owns 2,693 shares of the company’s stock valued at $129,000 after buying an additional 2,145 shares in the last quarter. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

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.