Korro Bio, Inc. (NASDAQ:KRRO – Get Free Report) Director Jean Francois Formela sold 119,005 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $14.25, for a total transaction of $1,695,821.25. Following the transaction, the director owned 176,649 shares of the company’s stock, valued at approximately $2,517,248.25. This trade represents a 40.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jean Francois Formela also recently made the following trade(s):
- On Wednesday, June 24th, Jean Francois Formela sold 48,438 shares of Korro Bio stock. The shares were sold at an average price of $14.61, for a total transaction of $707,679.18.
- On Monday, June 22nd, Jean Francois Formela sold 3,962 shares of Korro Bio stock. The shares were sold at an average price of $13.95, for a total transaction of $55,269.90.
- On Thursday, May 28th, Jean Francois Formela sold 2,860 shares of Korro Bio stock. The stock was sold at an average price of $13.95, for a total value of $39,897.00.
Korro Bio Stock Performance
Shares of KRRO traded up $0.06 during midday trading on Wednesday, hitting $13.77. 448,896 shares of the company’s stock traded hands, compared to its average volume of 200,441. Korro Bio, Inc. has a 1 year low of $5.20 and a 1 year high of $55.89. The firm’s fifty day moving average is $12.20 and its 200-day moving average is $11.14.
Analyst Ratings Changes
Several brokerages recently commented on KRRO. Lifesci Capital raised shares of Korro Bio to a “strong-buy” rating in a research report on Friday, May 29th. Citigroup assumed coverage on shares of Korro Bio in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 target price on the stock. Raymond James Financial upgraded shares of Korro Bio from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research note on Friday, March 13th. Wall Street Zen upgraded shares of Korro Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, JonesTrading raised shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.71.
View Our Latest Analysis on Korro Bio
Institutional Investors Weigh In On Korro Bio
Large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Korro Bio during the 3rd quarter worth approximately $39,000. Wells Fargo & Company MN boosted its holdings in shares of Korro Bio by 45.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock valued at $60,000 after acquiring an additional 2,352 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Korro Bio in the fourth quarter worth $84,000. Jain Global LLC purchased a new position in shares of Korro Bio during the fourth quarter worth $85,000. Finally, Deutsche Bank AG raised its holdings in shares of Korro Bio by 241.9% during the fourth quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock worth $102,000 after purchasing an additional 9,027 shares during the last quarter. Hedge funds and other institutional investors own 13.18% of the company’s stock.
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.
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