Korro Bio (NASDAQ:KRRO) Director Sells $398,552.00 in Stock

Korro Bio, Inc. (NASDAQ:KRRO) Director Jean Francois Formela sold 28,468 shares of Korro Bio stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $14.00, for a total value of $398,552.00. Following the sale, the director directly owned 141,053 shares of the company’s stock, valued at approximately $1,974,742. This represents a 16.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 Tuesday, August 11th, Jean Francois Formela sold 2,143 shares of Korro Bio stock. The shares were sold at an average price of $13.96, for a total value of $29,916.28.
• On Monday, July 6th, Jean Francois Formela sold 9,323 shares of Korro Bio stock. The stock was sold at an average price of $13.96, for a total value of $130,149.08.
• 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 stock was sold at an average price of $14.61, for a total value 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 value of $1,695,821.25.
• On Monday, June 22nd, Jean Francois Formela sold 3,962 shares of Korro Bio stock. The shares were 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 stock was sold at an average price of $13.95, for a total transaction of $39,897.00.

Korro Bio Stock Performance

KRRO opened at $13.18 on Monday. Korro Bio, Inc. has a 12-month low of $5.20 and a 12-month high of $55.89. The firm has a market capitalization of $194.09 million, a PE ratio of -1.32 and a beta of 3.04. The firm has a 50 day moving average of $12.63 and a two-hundred day moving average of $12.23.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($1.07) EPS for the quarter, beating the consensus estimate of ($1.34) by $0.27. Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 114.26%. As a group, analysts predict that Korro Bio, Inc. will post -4.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Korro Bio

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in Korro Bio during the third quarter valued at $39,000. Algert Global LLC purchased a new position in Korro Bio in the third quarter valued at $340,000. Wells Fargo & Company MN raised 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 worth $60,000 after acquiring an additional 2,352 shares during the period. Alliancebernstein L.P. acquired a new position in shares of Korro Bio in the third quarter worth about $369,000. Finally, Blair William & Co. IL purchased a new stake in shares of Korro Bio during the 3rd quarter worth about $467,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KRRO has been the subject of a number of research reports. JonesTrading upgraded shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Wall Street Zen raised Korro Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Citigroup began coverage on Korro Bio in a research note on Monday, May 18th. They set a “buy” rating and a $21.00 price objective for the company. Lifesci Capital raised Korro Bio to a “strong-buy” rating in a report on Friday, May 29th. Finally, HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Korro Bio in a research note on Thursday. Three equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Korro Bio has an average rating of “Moderate Buy” and an average target price of $16.71.

About Korro Bio

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.