Korro Bio (NASDAQ:KRRO) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Korro Bio (NASDAQ:KRRO) from a hold rating to a sell rating in a report released on Saturday.

A number of other brokerages have also commented on KRRO. Piper Sandler lowered Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Thursday, November 13th. William Blair downgraded shares of Korro Bio from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 13th. Jones Trading lowered shares of Korro Bio from a “buy” rating to a “hold” rating in a report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a research report on Tuesday, October 14th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Korro Bio in a report on Thursday, November 13th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $76.00.

Korro Bio Stock Performance

Shares of KRRO stock opened at $7.96 on Friday. The firm’s 50-day moving average is $24.66 and its 200-day moving average is $22.19. Korro Bio has a 52-week low of $5.20 and a 52-week high of $55.89. The stock has a market cap of $74.98 million, a price-to-earnings ratio of -0.85 and a beta of 3.04.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KRRO. Russell Investments Group Ltd. bought a new stake in Korro Bio during the third quarter worth $39,000. Quarry LP purchased a new position in Korro Bio during the 1st quarter worth $35,000. CWM LLC grew its stake in shares of Korro Bio by 391.4% in the 3rd quarter. CWM LLC now owns 2,693 shares of the company’s stock worth $129,000 after acquiring an additional 2,145 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Korro Bio in the 3rd quarter worth $140,000. Finally, Wealth Forward LLC purchased a new stake in shares of Korro Bio in the third quarter valued at about $240,000. Institutional investors own 13.18% of the company’s stock.

Korro Bio Company Profile

Korro Bio, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of genetic medicines based on editing RNA for the treatment of rare and highly prevalent diseases primarily in the United States. Its lead product candidate is KRRO-110 which is in preclinical trials for the treatment of Alpha-1 Antitrypsin Deficiency (AATD).