Raymond James Financial Upgrades Korro Bio (NASDAQ:KRRO) to Outperform

Korro Bio (NASDAQ:KRRO) was upgraded by research analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $23.00 price objective on the stock. Raymond James Financial’s target price suggests a potential upside of 79.69% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reissued a “neutral” rating on shares of Korro Bio in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a research note on Friday, January 9th. Clear Str raised shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada lowered shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 13th. Finally, JonesTrading cut shares of Korro Bio from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Korro Bio Trading Up 11.3%

NASDAQ KRRO opened at $12.80 on Friday. The business’s 50-day moving average price is $10.99 and its 200 day moving average price is $20.18. Korro Bio has a twelve month low of $5.20 and a twelve month high of $55.89. The company has a market capitalization of $120.58 million, a PE ratio of -1.03 and a beta of 2.98.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($5.32) EPS for the quarter, missing the consensus estimate of ($1.93) by ($3.39). Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 99.63%. The business had revenue of $1.29 million during the quarter, compared to analysts’ expectations of $0.43 million. Equities analysts predict that Korro Bio will post -9.52 EPS for the current year.

Insider Activity

In other Korro Bio news, major shareholder Edward T. Mathers purchased 207,100 shares of Korro Bio stock in a transaction on Tuesday, March 10th. The shares were purchased at an average cost of $11.11 per share, with a total value of $2,300,881.00. Following the completion of the transaction, the insider directly owned 1,297,893 shares in the company, valued at approximately $14,419,591.23. This represents a 18.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Mohamad Makhzoumi acquired 207,100 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were acquired at an average price of $11.11 per share, with a total value of $2,300,881.00. Following the completion of the purchase, the insider owned 1,297,893 shares of the company’s stock, valued at $14,419,591.23. This trade represents a 18.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 1,656,800 shares of company stock worth $18,407,048. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds have recently made changes to their positions in the business. Nantahala Capital Management LLC acquired a new position in shares of Korro Bio during the 4th quarter valued at $4,806,000. TCG Crossover Management LLC acquired a new stake in Korro Bio in the 3rd quarter valued at $19,937,000. JPMorgan Chase & Co. increased its holdings in Korro Bio by 6,185.5% in the 3rd 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 in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Korro Bio in the third quarter valued at about $4,319,000. Finally, Raymond James Financial Inc. raised its position in 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 period. Hedge funds and other institutional investors own 13.18% of the company’s stock.

Key Korro Bio News

Here are the key news stories impacting Korro Bio this week:

• Positive Sentiment: Raymond James upgraded KRRO from “market perform” to “outperform” and set a $23 price target, providing a prominent analyst endorsement that can attract momentum and institutional buyers. Read More.
• Positive Sentiment: Multiple major shareholders and investors (including Enterprise Associates/NEA‑17, Forest Baskett, Scott Sandell and others) disclosed large purchases (~207,100 shares at ~$11.11 each), signaling strong insider/large‑holder conviction and providing buying support. Read More.
• Positive Sentiment: Corporate update: Korro nominated KRRO‑121 for hyperammonemia, is advancing a GalNAc oligo candidate for AAT deficiency (on track to nominate in Q2 2026), and closed an oversubscribed $85M private placement, which management says extends cash runway into H2 2028 — materially reducing near‑term financing risk. Read More.
• Neutral Sentiment: Revenue for Q4 modestly exceeded expectations ($1.29M vs. ~ $0.42M est.), but the amount is very small relative to R&D and operating burn, so near‑term profit improvement is limited. Read More.
• Negative Sentiment: Quarterly and annual results show heavy write‑downs and operating losses: Q4 EPS was a ($5.32) miss vs. consensus (~($1.93)), and full‑year net loss widened (reported ~$117.3M) driven by non‑cash impairment charges — highlighting high execution risk and potential for volatility if clinical progress stalls. Read More. Read More.

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.