Korro Bio, Inc. (NASDAQ:KRRO – Get Free Report) insider Loic Vincent sold 3,418 shares of Korro Bio stock in a transaction on 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 sale, the insider directly owned 18,297 shares of the company’s stock, valued at approximately $198,156.51. This represents a 15.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Korro Bio Stock Up 3.7%
Shares of NASDAQ:KRRO opened at $11.05 on Thursday. The company has a market cap of $159.34 million, a P/E ratio of -0.95 and a beta of 3.00. Korro Bio, Inc. has a 52 week low of $5.20 and a 52 week high of $55.89. The business has a fifty day simple moving average of $12.19 and a 200-day simple moving average of $10.87.
Korro Bio (NASDAQ:KRRO – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates 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
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Korro Bio in a research report on Wednesday, April 8th. Raymond James Financial upgraded 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. Lifesci Capital upgraded Korro Bio to a “strong-buy” rating in a research note on Friday, May 29th. Wall Street Zen upgraded Korro Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Citigroup initiated coverage on Korro Bio in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Korro Bio has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.
Check Out Our Latest Report on Korro Bio
Korro Bio Company Profile
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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