Korro Bio, Inc. (NASDAQ:KRRO) Receives $66.50 Consensus Target Price from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have earned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $66.50.

Several research firms have commented on KRRO. William Blair reissued a “market perform” rating and set a $10.00 price target on shares of Korro Bio in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a report on Friday, January 9th. Raymond James Financial reaffirmed a “market perform” rating on shares of Korro Bio in a report on Wednesday, January 28th. HC Wainwright reissued a “neutral” rating on shares of Korro Bio in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada lowered shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 13th.

Korro Bio Trading Down 4.6%

KRRO opened at $12.14 on Friday. The stock has a market capitalization of $114.36 million, a P/E ratio of -1.29 and a beta of 2.99. The stock has a 50-day moving average price of $9.25 and a 200-day moving average price of $21.15. Korro Bio has a 12-month low of $5.20 and a 12-month high of $55.89.

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

Hedge Funds Weigh In On Korro Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new position in Korro Bio in the 3rd quarter worth approximately $39,000. CWM LLC grew its holdings in shares of Korro Bio by 391.4% in the third quarter. CWM LLC now owns 2,693 shares of the company’s stock worth $129,000 after purchasing an additional 2,145 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Korro Bio in the third quarter worth $140,000. Millennium Management LLC increased its stake in shares of Korro Bio by 1.8% in the third 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. Finally, Wealth Forward LLC bought a new stake in Korro Bio during the 3rd quarter valued at $240,000. 13.18% of the stock is currently owned by institutional investors.

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.