Korro Bio (NASDAQ:KRRO) Earns Sell (D-) Rating from Weiss Ratings

Korro Bio (NASDAQ:KRRO)‘s stock had its “sell (d-)” rating reiterated by research analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

Several other brokerages also recently weighed in on KRRO. Raymond James Financial cut their price target on shares of Korro Bio from $153.00 to $147.00 and set a “strong-buy” rating on the stock in a report on Wednesday, August 13th. Chardan Capital reiterated a “buy” rating and issued a $25.00 price objective on shares of Korro Bio in a research note on Wednesday, August 13th. Finally, HC Wainwright reduced their target price on shares of Korro Bio from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $86.83.

Korro Bio Price Performance

Shares of KRRO stock opened at $51.36 on Tuesday. The business has a fifty day moving average of $31.56 and a 200 day moving average of $20.27. Korro Bio has a 1 year low of $10.29 and a 1 year high of $98.00. The firm has a market capitalization of $482.32 million, a price-to-earnings ratio of -5.27 and a beta of 2.89.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($2.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.54) by ($0.20). The firm had revenue of $1.46 million during the quarter, compared to analyst estimates of $0.41 million. As a group, equities research analysts expect that Korro Bio will post -9.52 earnings per share for the current year.

Institutional Trading of Korro Bio

A number of hedge funds have recently added to or reduced their stakes in KRRO. Charles Schwab Investment Management Inc. grew its position in Korro Bio by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company’s stock valued at $318,000 after buying an additional 790 shares during the period. Bank of New York Mellon Corp grew its position in shares of Korro Bio by 9.0% during the 1st quarter. Bank of New York Mellon Corp now owns 16,113 shares of the company’s stock valued at $281,000 after acquiring an additional 1,325 shares during the period. Quarry LP acquired a new stake in shares of Korro Bio during the 1st quarter valued at about $35,000. CWM LLC increased its stake in shares of Korro Bio by 391.4% in 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. Finally, Blair William & Co. IL raised its holdings in Korro Bio by 25.9% in the 1st quarter. Blair William & Co. IL now owns 16,230 shares of the company’s stock worth $283,000 after purchasing an additional 3,335 shares during the period. 13.18% of the stock is owned by hedge funds and other institutional investors.

Korro Bio Company Profile

Korro Bio, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of genetic medicines based on editing RNA for the treatment of rare and highly prevalent diseases primarily in the United States. Its lead product candidate is KRRO-110 which is in preclinical trials for the treatment of Alpha-1 Antitrypsin Deficiency (AATD).