Korro Bio (NASDAQ:KRRO) SVP Oliver Dolan Sells 7,347 Shares

Korro Bio, Inc. (NASDAQ:KRRO) SVP Oliver Dolan sold 7,347 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $13.51, for a total transaction of $99,257.97. Following the completion of the transaction, the senior vice president owned 16,252 shares in the company, valued at $219,564.52. The trade was a 31.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Oliver Dolan also recently made the following trade(s):

• On Wednesday, September 9th, Oliver Dolan sold 6 shares of Korro Bio stock. The shares were sold at an average price of $13.60, for a total value of $81.60.

Korro Bio Stock Up 1.0%

Shares of KRRO opened at $13.06 on Friday. The stock has a 50 day moving average price of $12.62 and a 200 day moving average price of $12.32. The company has a market capitalization of $192.37 million, a price-to-earnings ratio of -1.31 and a beta of 3.09. Korro Bio, Inc. has a 52-week low of $5.20 and a 52-week high of $55.89.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.27. Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 114.26%. On average, equities analysts anticipate that Korro Bio, Inc. will post -4.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on KRRO shares. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Korro Bio in a research note on Thursday, August 20th. Lifesci Capital upgraded Korro Bio to a “strong-buy” rating in a research report on Friday, May 29th. Citigroup initiated coverage on Korro Bio in a research report on Monday, May 18th. They issued a “buy” rating and a $21.00 target price for the company. Wall Street Zen upgraded Korro Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Institutional Investors Weigh In On Korro Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Korro Bio during the second quarter worth about $10,776,000. Affinity Asset Advisors LLC purchased a new stake in shares of Korro Bio during the 1st quarter worth $8,002,000. Nantahala Capital Management LLC purchased a new stake in shares of Korro Bio during the 2nd quarter worth $8,699,274. ADAR1 Capital Management LLC acquired a new position in shares of Korro Bio during the 2nd quarter worth $7,118,000. Finally, TCG Crossover Management LLC acquired a new position in shares of Korro Bio during the 3rd quarter worth $19,937,000. 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.