Key Points
- Korro Bio COO Todd Chappell sold 3,168 shares on June 16 at an average price of $10.83, totaling about $34,309. Following the sale, he still owned 16,964 shares.
- The transaction was disclosed to the SEC and was made to cover tax withholding obligations tied to the vesting of equity awards.
- Korro Bio recently reported quarterly EPS of -$1.69, missing estimates, while analysts currently rate the stock a Moderate Buy with an average price target of $16.71.
Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) COO Todd Chappell sold 3,168 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $10.83, for a total transaction of $34,309.44. Following the sale, the chief operating officer owned 16,964 shares in the company, valued at approximately $183,720.12. This trade represents a 15.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Korro Bio Stock Performance
Korro Bio stock opened at $11.05 on Thursday. The firm's fifty day moving average price is $12.19 and its 200-day moving average price is $10.87. The stock 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 fifty-two week low of $5.20 and a fifty-two week high of $55.89.
Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.69) earnings per share 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, analysts predict that Korro Bio, Inc. will post -5.36 earnings per share for the current year.
Analysts Set New Price Targets
KRRO has been the topic of several research reports. HC Wainwright lowered their price objective on shares of Korro Bio from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. Lifesci Capital upgraded shares of Korro Bio to a "strong-buy" rating in a research report on Friday, May 29th. Clear Str upgraded shares of Korro Bio from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded shares of Korro Bio from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Citigroup initiated coverage on shares of Korro Bio in a research report on Monday, May 18th. They issued a "buy" rating and a $21.00 target price on the stock. 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 assigned 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 $16.71.
Check Out Our Latest Stock Analysis on KRRO
Hedge Funds Weigh In On Korro Bio
A number of hedge funds have recently modified their holdings of the company. ADAR1 Capital Management LLC purchased a new position in shares of Korro Bio in the first quarter valued at about $6,113,000. Quantinno Capital Management LP increased its position in shares of Korro Bio by 30.4% in the first quarter. Quantinno Capital Management LP now owns 35,978 shares of the company's stock valued at $407,000 after acquiring an additional 8,381 shares during the period. Kalehua Capital Management LLC bought a new stake in shares of Korro Bio during the 1st quarter valued at about $1,238,000. Affinity Asset Advisors LLC bought a new stake in shares of Korro Bio during the 1st quarter valued at about $8,002,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Korro Bio by 81.9% during 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 in the last quarter. Hedge funds and other institutional investors own 13.18% of the company's stock.
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.
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