Korro Bio (NASDAQ:KRRO) Cut to “Neutral” at Cantor Fitzgerald

Cantor Fitzgerald cut shares of Korro Bio (NASDAQ:KRRO) from an overweight rating to a neutral rating in a report published on Thursday morning, MarketBeat Ratings reports.

KRRO has been the topic of a number of other research reports. William Blair downgraded shares of Korro Bio from an “outperform” rating to a “market perform” rating in a research report on Thursday. Piper Sandler cut Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price target for the company. in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a research note on Tuesday, October 14th. HC Wainwright reaffirmed a “neutral” rating on shares of Korro Bio in a research report on Thursday. Finally, Chardan Capital reissued a “neutral” rating on shares of Korro Bio in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.00.

Korro Bio Stock Down 6.6%

Shares of NASDAQ:KRRO opened at $6.07 on Thursday. The company has a market capitalization of $57.18 million, a price-to-earnings ratio of -0.65 and a beta of 2.94. The firm has a 50 day moving average of $37.71 and a 200 day moving average of $23.43. Korro Bio has a 52 week low of $5.70 and a 52 week high of $56.69.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($1.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.61) by $0.69. Korro Bio had a negative return on equity of 68.87% and a negative net margin of 1,199.53%.The business had revenue of $1.09 million for the quarter, compared to the consensus estimate of $0.41 million. On average, sell-side analysts expect that Korro Bio will post -9.52 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

A number of large investors have recently bought and sold shares of KRRO. Schonfeld Strategic Advisors LLC purchased a new position in Korro Bio during the third quarter worth approximately $4,319,000. Raymond James Financial Inc. increased its holdings in Korro Bio by 78.6% in the 3rd quarter. Raymond James Financial Inc. now owns 148,971 shares of the company’s stock worth $7,134,000 after acquiring an additional 65,579 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Korro Bio by 75.4% in the third quarter. Two Sigma Investments LP now owns 64,455 shares of the company’s stock valued at $3,087,000 after purchasing an additional 27,709 shares during the period. F m Investments LLC acquired a new position in shares of Korro Bio during the 3rd quarter worth about $2,646,000. Finally, UBS Group AG boosted its holdings in Korro Bio by 185.8% in the 3rd quarter. UBS Group AG now owns 53,103 shares of the company’s stock worth $2,543,000 after buying an additional 34,522 shares during the last quarter. Institutional investors and hedge funds own 13.18% of the company’s stock.

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).