Korro Bio (NASDAQ:KRRO) Insider Loic Vincent Sells 3,418 Shares

Korro Bio, Inc. (NASDAQ:KRRO) insider Loic Vincent sold 3,418 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $10.83, for a total value of $37,016.94. Following the completion of the transaction, the insider owned 18,297 shares of the company’s stock, valued at $198,156.51. The trade was a 15.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Korro Bio Trading Up 3.7%

Shares of NASDAQ KRRO traded up $0.39 during mid-day trading on Wednesday, hitting $11.05. The company had a trading volume of 143,415 shares, compared to its average volume of 194,060. The company has a market capitalization of $159.37 million, a PE ratio of -0.95 and a beta of 3.01. The firm has a 50-day simple moving average of $12.24 and a two-hundred day simple moving average of $10.83. Korro Bio, Inc. has a one year low of $5.20 and a one year high of $55.89.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.69) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.09). Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 117.86%. Sell-side analysts expect that Korro Bio, Inc. will post -5.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ADAR1 Capital Management LLC bought a new position in Korro Bio during the first quarter worth about $6,113,000. Quantinno Capital Management LP boosted its holdings in shares of Korro Bio by 30.4% during the first quarter. Quantinno Capital Management LP now owns 35,978 shares of the company’s stock worth $407,000 after acquiring an additional 8,381 shares during the period. Kalehua Capital Management LLC bought a new stake in shares of Korro Bio during the first quarter worth approximately $1,238,000. Affinity Asset Advisors LLC bought a new stake in shares of Korro Bio during the first quarter worth approximately $8,002,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Korro Bio by 81.9% during the first quarter. Renaissance Technologies LLC now owns 136,227 shares of the company’s stock worth $1,542,000 after acquiring an additional 61,327 shares during the period. Institutional investors own 13.18% of the company’s stock.

Wall Street Analyst Weigh In

KRRO has been the subject of a number of research analyst reports. Cantor Fitzgerald lifted their price target on Korro Bio from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Clear Str upgraded Korro Bio from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Citigroup initiated coverage on Korro Bio in a report on Monday, May 18th. They set a “buy” rating and a $21.00 price target for the company. JonesTrading upgraded Korro Bio from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. Finally, Raymond James Financial upgraded Korro Bio from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Friday, March 13th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.

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.