Korro Bio (NASDAQ:KRRO) Lowered to Market Perform Rating by William Blair

William Blair lowered shares of Korro Bio (NASDAQ:KRRO) from an outperform rating to a market perform rating in a research note issued to investors on Thursday, MarketBeat.com reports.

Several other equities research analysts have also recently weighed in on the company. Chardan Capital restated a “neutral” rating on shares of Korro Bio in a report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a report on Tuesday, October 14th. HC Wainwright reiterated a “neutral” rating on shares of Korro Bio in a report on Thursday. Raymond James Financial cut their price target on shares of Korro Bio from $153.00 to $147.00 and set a “strong-buy” rating on the stock in a report on Wednesday, August 13th. Finally, Piper Sandler downgraded shares of Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.00.

Korro Bio Trading Down 6.6%

Shares of KRRO stock traded down $0.43 during trading hours on Thursday, hitting $6.07. 2,041,909 shares of the company’s stock were exchanged, compared to its average volume of 749,800. The company has a market capitalization of $57.18 million, a PE ratio of -0.65 and a beta of 2.94. Korro Bio has a 12-month low of $5.70 and a 12-month high of $56.69. The business’s 50 day simple moving average is $37.71 and its 200-day simple moving average is $23.38.

Korro Bio (NASDAQ:KRRO) last released its earnings results on Wednesday, November 12th. The company reported ($1.92) EPS for the quarter, beating the consensus estimate of ($2.61) by $0.69. The company had revenue of $1.09 million for the quarter, compared to analyst estimates of $0.41 million. Korro Bio had a negative net margin of 1,199.53% and a negative return on equity of 68.87%. Equities analysts anticipate that Korro Bio will post -9.52 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cormorant Asset Management LP purchased a new stake in Korro Bio in the first quarter worth about $6,621,000. JPMorgan Chase & Co. boosted its position in shares of Korro Bio by 6,185.5% during the third quarter. JPMorgan Chase & Co. now owns 199,249 shares of the company’s stock valued at $9,542,000 after purchasing an additional 196,079 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Korro Bio in the third quarter worth $4,319,000. Driehaus Capital Management LLC grew its stake in Korro Bio by 17.7% in the first quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company’s stock worth $10,140,000 after purchasing an additional 87,544 shares during the period. Finally, Aberdeen Group plc bought a new position in Korro Bio in the first quarter worth $1,470,000. Hedge funds and other institutional investors own 13.18% of the company’s stock.

Korro Bio Company Profile

Korro Bio, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of genetic medicines based on editing RNA for the treatment of rare and highly prevalent diseases primarily in the United States. Its lead product candidate is KRRO-110 which is in preclinical trials for the treatment of Alpha-1 Antitrypsin Deficiency (AATD).