Analysts Set Korro Bio, Inc. (NASDAQ:KRRO) PT at $76.00

Korro Bio, Inc. (NASDAQ:KRRO) has received an average rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $76.00.

KRRO has been the topic of several recent analyst reports. Piper Sandler downgraded Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Thursday, November 13th. HC Wainwright restated a “neutral” rating on shares of Korro Bio in a research note on Thursday, November 13th. Jones Trading cut Korro Bio from a “buy” rating to a “hold” rating in a research report on Friday, November 14th. Wall Street Zen downgraded Korro Bio from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Finally, Raymond James Financial lowered Korro Bio from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, November 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its stake in shares of Korro Bio by 195.9% in the 2nd quarter. AlphaQuest LLC now owns 27,211 shares of the company’s stock worth $340,000 after buying an additional 18,015 shares during the last quarter. Algert Global LLC purchased a new stake in Korro Bio during the third quarter valued at $340,000. Alliancebernstein L.P. bought a new position in Korro Bio in the third quarter valued at about $369,000. Russell Investments Group Ltd. bought a new position in Korro Bio in the third quarter valued at about $39,000. Finally, Blair William & Co. IL purchased a new position in Korro Bio in the third quarter worth about $467,000. Institutional investors own 13.18% of the company’s stock.

Korro Bio Stock Performance

NASDAQ:KRRO opened at $8.78 on Wednesday. The firm has a market cap of $82.71 million, a P/E ratio of -0.93 and a beta of 2.95. Korro Bio has a fifty-two week low of $5.20 and a fifty-two week high of $55.89. The firm has a 50-day simple moving average of $8.94 and a two-hundred day simple moving average of $21.32.

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, topping the consensus estimate of ($2.61) by $0.69. The firm had revenue of $1.09 million for the quarter, compared to the consensus estimate of $0.41 million. Korro Bio had a negative net margin of 1,199.53% and a negative return on equity of 68.87%. On average, equities research analysts predict that Korro Bio will post -9.52 EPS for the current year.

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.