Key Points
- Director Jean Formela sold 26,587 shares at an average $15.08, worth about $400,932, under a pre-arranged Rule 10b5-1 plan. He retained 128,089 shares; the sale reduced his position by 17.19%.
- Korro Bio shares fell 4.9% to $13.61 on Friday. The company reported a quarterly loss of $0.98 per share, beating the consensus estimate of a $1.14 loss.
- Analysts’ consensus rating is Buy, with a $17.29 average price target; ratings include three Strong Buys, six Buys, and one Sell.
Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) Director Jean Formela sold 26,587 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $15.08, for a total transaction of $400,931.96. Following the sale, the director directly owned 128,089 shares of the company's stock, valued at $1,931,582.12. The trade was a 17.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, November 12th, Jean Formela sold 40,045 shares of Korro Bio stock. The shares were sold at an average price of $14.30, for a total transaction of $572,643.50.
- On Wednesday, August 26th, Jean Formela sold 300 shares of Korro Bio stock. The shares were sold at an average price of $13.96, for a total transaction of $4,188.00.
- On Wednesday, August 19th, Jean Formela sold 28,468 shares of Korro Bio stock. The shares were sold at an average price of $14.00, for a total transaction of $398,552.00.
Korro Bio Stock Down 4.9%
Shares of Korro Bio stock traded down $0.70 during trading on Friday, reaching $13.61. 78,960 shares of the stock were exchanged, compared to its average volume of 230,519. The stock's fifty day moving average is $11.86 and its 200 day moving average is $12.16. The firm has a market cap of $186.87 million, a price-to-earnings ratio of -1.50 and a beta of 3.23. Korro Bio, Inc. has a 1 year low of $5.20 and a 1 year high of $17.35.
Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.16. Equities analysts forecast that Korro Bio, Inc. will post -4.45 earnings per share for the current year.
Analyst Ratings Changes
KRRO has been the subject of several research analyst reports. Wall Street Zen upgraded Korro Bio from a "sell" rating to a "hold" rating in a report on Saturday, November 7th. HC Wainwright reissued a "buy" rating and set a $15.00 target price on shares of Korro Bio in a research note on Tuesday, October 6th. Jefferies Financial Group set a $15.00 target price on Korro Bio in a report on Tuesday, October 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Korro Bio in a research note on Friday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $17.29.
View Our Latest Analysis on KRRO
Hedge Funds Weigh In On Korro Bio
Hedge funds and other institutional investors have recently modified their holdings of the stock. Nantahala Capital Management LLC raised its stake in Korro Bio by 3.1% in the third quarter. Nantahala Capital Management LLC now owns 680,246 shares of the company's stock worth $6,741,000 after buying an additional 20,210 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Korro Bio in the third quarter worth about $54,000. North Star Investment Management Corp. lifted its holdings in Korro Bio by 1,044.4% in the third quarter. North Star Investment Management Corp. now owns 20,600 shares of the company's stock worth $204,000 after buying an additional 18,800 shares during the period. Hsbc Holdings PLC bought a new stake in Korro Bio during the 2nd quarter valued at approximately $233,000. Finally, Bank of America Corp DE bought a new stake in Korro Bio during the 2nd quarter valued at approximately $681,000. Hedge funds and other institutional investors own 13.18% of the company's stock.
Korro Bio Company Profile
(
Get Free Report)
Korro Bio is a clinical-stage biotechnology company headquartered in Cambridge, Massachusetts. It develops RNA-editing medicines intended to address genetic diseases by changing specific RNA sequences rather than altering a patient's DNA. The company's OPERA platform uses oligonucleotides to direct the body's naturally occurring ADAR enzymes to edit targeted RNA. Korro has developed KRRO-110, an investigational candidate designed to correct a disease-associated RNA change linked to alpha-1 antitrypsin deficiency.
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