Key Points
- Korro Bio director Jean Francois Formela sold 2,860 shares on May 28 at an average price of $13.95, totaling about $39,897. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Formela still owned 194,655 shares of Korro Bio, worth roughly $2.72 million. His stake decreased by about 1.45%.
- Korro Bio recently reported a quarterly EPS loss of $1.69, slightly worse than expectations, while analysts currently maintain a Moderate Buy consensus with a $16.71 price target.
Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) Director Jean Francois Formela sold 2,860 shares of the business's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $13.95, for a total value of $39,897.00. Following the completion of the transaction, the director directly owned 194,655 shares in the company, valued at approximately $2,715,437.25. This represents a 1.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Korro Bio Stock Performance
Korro Bio stock opened at $12.93 on Tuesday. Korro Bio, Inc. has a 52 week low of $5.20 and a 52 week high of $55.89. The firm has a market cap of $186.49 million, a P/E ratio of -1.11 and a beta of 3.07. The business's fifty day moving average is $12.37 and its two-hundred day moving average is $10.63.
Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities research analysts predict that Korro Bio, Inc. will post -5.38 earnings per share for the current year.
Hedge Funds Weigh In On Korro Bio
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRRO. ADAR1 Capital Management LLC bought a new position in shares of Korro Bio in the 1st quarter valued at $6,113,000. Quantinno Capital Management LP lifted its holdings in Korro Bio by 30.4% during the 1st quarter. Quantinno Capital Management LP now owns 35,978 shares of the company's stock worth $407,000 after buying an additional 8,381 shares during the period. Kalehua Capital Management LLC acquired a new position in Korro Bio in the first quarter valued at $1,238,000. Affinity Asset Advisors LLC acquired a new position in shares of Korro Bio in the 1st quarter valued at about $8,002,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Korro Bio by 81.9% in the 1st quarter. Renaissance Technologies LLC now owns 136,227 shares of the company's stock valued at $1,542,000 after purchasing an additional 61,327 shares during the period. 13.18% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. HC Wainwright dropped their price objective on Korro Bio from $20.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. Cantor Fitzgerald increased their price objective on Korro Bio from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, March 13th. Clear Str upgraded Korro Bio from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Lifesci Capital raised Korro Bio to a "strong-buy" rating in a research report on Friday. Finally, Wall Street Zen raised Korro Bio from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. Three research 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.com, Korro Bio presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.71.
Check Out Our Latest Research Report on Korro Bio
About Korro Bio
(
Get Free Report)
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.
Further Reading
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