Key Points
- Korro Bio director Jean Francois Formela sold 100,700 shares on July 2 at an average price of $14.03, totaling about $1.41 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Formela has also made several other recent sales, including a 119,005-share sale on June 23 and a 48,438-share sale on June 24, reducing his position by 39.41% in the latest disclosed transaction.
- Korro Bio’s stock was trading around $14.49, while the company recently reported a quarterly loss of ($1.69) per share, missing estimates. Analysts currently rate the stock Moderate Buy with a consensus target price of $16.71.
Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) Director Jean Francois Formela sold 9,323 shares of the business's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.96, for a total transaction of $130,149.08. Following the transaction, the director owned 146,305 shares in the company, valued at approximately $2,042,417.80. The trade was a 5.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Thursday, July 2nd, Jean Francois Formela sold 100,700 shares of Korro Bio stock. The stock was sold at an average price of $14.03, for a total value of $1,412,821.00.
- 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 Tuesday, June 23rd, Jean Francois Formela sold 119,005 shares of Korro Bio stock. The shares were sold at an average price of $14.25, for a total transaction of $1,695,821.25.
- On Monday, June 22nd, Jean Francois Formela sold 3,962 shares of Korro Bio stock. The stock was sold at an average price of $13.95, for a total value of $55,269.90.
- On Thursday, May 28th, Jean Francois Formela sold 2,860 shares of Korro Bio stock. The shares were sold at an average price of $13.95, for a total transaction of $39,897.00.
Korro Bio Price Performance
Shares of Korro Bio stock opened at $14.49 on Wednesday. The firm has a 50 day simple moving average of $12.15 and a 200 day simple moving average of $11.50. Korro Bio, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $55.89. The firm has a market cap of $208.95 million, a P/E ratio of -1.24 and a beta of 3.00.
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 (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.09). Korro Bio had a negative return on equity of 117.86% and a negative net margin of 1,834.48%. On average, sell-side analysts expect that Korro Bio, Inc. will post -5.36 EPS for the current year.
Wall Street Analyst Weigh In
KRRO has been the topic of several analyst reports. Raymond James Financial upgraded shares of Korro Bio from a "market perform" rating to an "outperform" rating and set a $23.00 target price on the stock in a report on Friday, March 13th. Cantor Fitzgerald increased their price target on Korro Bio from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, March 13th. Wall Street Zen raised Korro Bio from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Korro Bio in a report on Wednesday, April 8th. Finally, Citigroup assumed coverage on Korro Bio in a research report on Monday, May 18th. They issued a "buy" rating and a $21.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $16.71.
Read Our Latest Stock Report on KRRO
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new stake in Korro Bio during the 3rd quarter worth about $39,000. Wells Fargo & Company MN increased its position in shares of Korro Bio by 45.5% in the fourth 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 valued at about $84,000. Jain Global LLC bought a new stake in Korro Bio during the fourth quarter worth about $85,000. Finally, Deutsche Bank AG boosted its position in Korro Bio by 241.9% during the fourth quarter. Deutsche Bank AG now owns 12,758 shares of the company's stock valued at $102,000 after purchasing an additional 9,027 shares during the last quarter. Institutional investors and hedge funds 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.
Further Reading
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