Korro Bio (NASDAQ:KRRO) Upgraded at Clear Str

Clear Str upgraded shares of Korro Bio (NASDAQ:KRRO) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on KRRO. William Blair raised shares of Korro Bio from a “market perform” rating to an “outperform” rating in a research report on Tuesday. JonesTrading cut Korro Bio from a “buy” rating to a “hold” rating in a research report on Friday, November 14th. Piper Sandler downgraded Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a report on Friday, January 9th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Korro Bio in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.38.

Korro Bio Price Performance

Korro Bio stock opened at $11.11 on Wednesday. Korro Bio has a 1-year low of $5.20 and a 1-year high of $55.89. The stock has a market cap of $104.66 million, a price-to-earnings ratio of -1.18 and a beta of 2.99. The firm has a 50 day simple moving average of $9.92 and a 200-day simple moving average of $20.86.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds have recently added to or reduced their stakes in KRRO. Nantahala Capital Management LLC bought a new position in Korro Bio in the 4th quarter worth approximately $4,806,000. TCG Crossover Management LLC purchased a new stake in shares of Korro Bio during the third quarter valued at $19,937,000. Vanguard Group Inc. boosted its position in shares of Korro Bio by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 395,659 shares of the company’s stock valued at $18,948,000 after purchasing an additional 8,921 shares during the period. Polar Capital Holdings Plc increased its stake in Korro Bio by 5.9% in the 3rd quarter. Polar Capital Holdings Plc now owns 264,694 shares of the company’s stock worth $12,676,000 after purchasing an additional 14,694 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Korro Bio by 1.8% during the 3rd quarter. Millennium Management LLC now owns 260,333 shares of the company’s stock worth $12,467,000 after buying an additional 4,650 shares during the period. 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.