Korro Bio (NASDAQ:KRRO) Downgraded by William Blair to Market Perform

Korro Bio (NASDAQ:KRRO) was downgraded by equities researchers at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

Several other analysts have also recently issued reports on KRRO. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a report on Tuesday, October 14th. HC Wainwright restated a “neutral” rating on shares of Korro Bio in a research note on Thursday. Chardan Capital reaffirmed a “neutral” rating on shares of Korro Bio in a research note on Thursday. Raymond James Financial decreased their price objective 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. Finally, Piper Sandler cut shares of Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Thursday. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Korro Bio presently has a consensus rating of “Hold” and an average price target of $76.00.

Korro Bio Stock Performance

Korro Bio stock traded down $25.14 during mid-day trading on Thursday, reaching $6.29. 4,852,052 shares of the company were exchanged, compared to its average volume of 182,882. The firm has a market cap of $59.02 million, a P/E ratio of -0.64 and a beta of 2.94. The business has a fifty day moving average of $38.69 and a 200 day moving average of $23.58. Korro Bio has a 12-month low of $6.20 and a 12-month high of $57.94.

Korro Bio (NASDAQ:KRRO) last released its earnings results on Wednesday, November 12th. The company reported ($1.92) EPS for the quarter, topping analysts’ consensus estimates of ($2.61) by $0.69. The firm had revenue of $1.09 million for the quarter, compared to analyst estimates of $0.41 million. Sell-side analysts predict that Korro Bio will post -9.52 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRRO. Bank of New York Mellon Corp grew its holdings 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 worth $281,000 after purchasing an additional 1,325 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Korro Bio by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company’s stock worth $318,000 after acquiring an additional 790 shares during the period. Driehaus Capital Management LLC increased its position in shares of Korro Bio by 17.7% during the first quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company’s stock worth $10,140,000 after buying an additional 87,544 shares during the period. Aberdeen Group plc bought a new position in shares of Korro Bio during the 1st quarter worth about $1,470,000. Finally, Cormorant Asset Management LP acquired a new stake in Korro Bio in the first quarter valued at approximately $6,621,000. 13.18% of the stock is currently owned by 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).