Korro Bio, Inc. (NASDAQ:KRRO) Receives Average Recommendation of “Hold” from Analysts

Korro Bio, Inc. (NASDAQ:KRRO) has received an average rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $50.3750.

A number of equities analysts have recently commented on the company. Royal Bank Of Canada cut Korro Bio from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 13th. Cantor Fitzgerald lowered Korro Bio from an “overweight” rating to a “neutral” rating in a report on Thursday, November 13th. Chardan Capital raised shares of Korro Bio from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday, January 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Korro Bio in a research report on Friday, January 9th. Finally, HC Wainwright reissued a “neutral” rating on shares of Korro Bio in a research note on Thursday, November 13th.

Korro Bio Price Performance

Shares of NASDAQ KRRO opened at $12.30 on Thursday. The business’s 50 day moving average is $10.68 and its two-hundred day moving average is $20.41. Korro Bio has a 1-year low of $5.20 and a 1-year high of $55.89. The stock has a market capitalization of $115.87 million, a P/E ratio of -1.31 and a beta of 2.98.

Institutional Trading of Korro Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in Korro Bio in the third quarter worth approximately $39,000. CWM LLC raised its position in Korro Bio by 391.4% during the 3rd quarter. CWM LLC now owns 2,693 shares of the company’s stock valued at $129,000 after purchasing an additional 2,145 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Korro Bio by 45.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock worth $60,000 after buying an additional 2,352 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of Korro Bio during the 3rd quarter worth $140,000. Finally, Millennium Management LLC grew its position in shares of 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 in the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.

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.