Korro Bio (NASDAQ:KRRO – Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.28, FiscalAI reports.
Korro Bio Stock Performance
KRRO stock traded down $1.89 during midday trading on Thursday, reaching $14.73. 436,190 shares of the company were exchanged, compared to its average volume of 195,677. Korro Bio has a 1-year low of $5.20 and a 1-year high of $36.79. The stock’s 50-day simple moving average is $11.59 and its 200 day simple moving average is $12.02. The company has a market cap of $216.91 million, a price-to-earnings ratio of -1.47 and a beta of 3.23.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on KRRO shares. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Korro Bio in a research note on Tuesday, October 6th. Wall Street Zen raised shares of Korro Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Jefferies Financial Group set a $15.00 price objective on shares of Korro Bio in a research report on Tuesday, October 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a report on Friday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Korro Bio presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.
Check Out Our Latest Stock Analysis on Korro Bio
Insider Transactions at Korro Bio
In other news, SVP Oliver Dolan sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $13.51, for a total value of $99,257.97. Following the completion of the transaction, the senior vice president owned 16,252 shares in the company, valued at approximately $219,564.52. This represents a 31.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Lynx1 Capital Management Lp bought 25,124 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was bought at an average cost of $11.75 per share, for a total transaction of $295,207.00. Following the completion of the transaction, the insider directly owned 1,624,789 shares in the company, valued at approximately $19,091,270.75. The trade was a 1.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 81,271 shares of company stock worth $904,203 and sold 38,269 shares worth $532,064. Insiders own 4.80% of the company’s stock.
About Korro Bio
Korro Bio, Inc is a clinical-stage biotechnology company developing RNA editing medicines for genetically driven diseases. The company’s approach is designed to make targeted changes to messenger RNA, potentially correcting or altering disease-related genetic instructions without permanently changing a patient’s DNA.
Korro Bio’s technology platform uses programmable oligonucleotides to guide RNA editing in specific cells and tissues. Its lead development program, KRRO-110, is being developed for alpha-1 antitrypsin deficiency, an inherited disorder caused by mutations in the SERPINA1 gene that can lead to liver and lung disease.
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