Korro Bio (NASDAQ:KRRO) Stock Rating Lowered by William Blair

Korro Bio (NASDAQ:KRRO) was downgraded by equities research analysts at William Blair from an “outperform” rating to a “market perform” rating in a report issued on Thursday, Marketbeat.com reports.

KRRO has been the subject of several other reports. Raymond James Financial lowered their price objective on Korro Bio from $153.00 to $147.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 13th. Piper Sandler downgraded shares of Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Thursday. HC Wainwright reissued a “neutral” rating on shares of Korro Bio in a research report on Thursday. Chardan Capital reiterated a “neutral” rating on shares of Korro Bio in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.00.

Korro Bio Price Performance

Shares of NASDAQ:KRRO traded down $25.14 during trading on Thursday, hitting $6.29. 4,852,052 shares of the company’s stock were exchanged, compared to its average volume of 182,882. The company has a market cap of $59.02 million, a price-to-earnings ratio of -0.64 and a beta of 2.94. Korro Bio has a 52-week low of $6.20 and a 52-week high of $57.94. The business’s 50-day simple moving average is $38.69 and its 200 day simple moving average is $23.58.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($1.92) EPS for the quarter, beating the consensus estimate of ($2.61) by $0.69. The business had revenue of $1.09 million during the quarter, compared to the consensus estimate of $0.41 million. On average, sell-side analysts anticipate that Korro Bio will post -9.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Korro Bio

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Korro Bio by 9.0% in the first 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. XTX Topco Ltd acquired a new position in shares of Korro Bio during the first quarter worth approximately $185,000. Blair William & Co. IL raised its position in Korro Bio by 25.9% in the 1st quarter. Blair William & Co. IL now owns 16,230 shares of the company’s stock valued at $283,000 after buying an additional 3,335 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Korro Bio by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company’s stock valued at $318,000 after purchasing an additional 790 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Korro Bio in the first quarter valued at $211,000. 13.18% of the stock is owned by institutional investors.

About Korro Bio

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).