Korro Bio (NASDAQ:KRRO) Upgraded at William Blair

William Blair upgraded shares of Korro Bio (NASDAQ:KRRO) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports.

A number of other equities research analysts have also recently commented on KRRO. Royal Bank Of Canada cut shares of Korro Bio from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 13th. HC Wainwright reissued a “neutral” rating on shares of Korro Bio in a research note on Thursday, November 13th. Piper Sandler cut shares of 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. Raymond James Financial reaffirmed a “market perform” rating on shares of Korro Bio in a report on Wednesday, January 28th. Finally, Wall Street Zen cut Korro Bio from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Korro Bio currently has a consensus rating of “Hold” and an average target price of $50.38.

Korro Bio Stock Up 4.2%

Shares of KRRO opened at $11.70 on Tuesday. The business has a 50-day simple moving average of $9.86 and a two-hundred day simple moving average of $20.89. 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 $110.21 million, a price-to-earnings ratio of -1.24 and a beta of 2.99.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KRRO. Nantahala Capital Management LLC purchased a new stake in shares of Korro Bio in the fourth quarter worth about $4,806,000. TCG Crossover Management LLC bought a new stake in Korro Bio in the 3rd quarter worth approximately $19,937,000. Vanguard Group Inc. raised its holdings in shares of Korro Bio by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 395,659 shares of the company’s stock worth $18,948,000 after acquiring an additional 8,921 shares in the last quarter. Polar Capital Holdings Plc boosted its position in shares of Korro Bio by 5.9% during the 3rd quarter. Polar Capital Holdings Plc now owns 264,694 shares of the company’s stock valued at $12,676,000 after acquiring an additional 14,694 shares during the last quarter. Finally, Millennium Management LLC grew its holdings 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 valued at $12,467,000 after purchasing an additional 4,650 shares in the last quarter. Hedge funds and other institutional investors own 13.18% of the company’s stock.

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.