Korro Bio (NASDAQ:KRRO) Major Shareholder Buys $2,300,881.00 in Stock

Korro Bio, Inc. (NASDAQ:KRRO) major shareholder Rick Yang bought 207,100 shares of the stock in a transaction on Tuesday, March 10th. The stock was purchased at an average cost of $11.11 per share, with a total value of $2,300,881.00. Following the completion of the purchase, the insider directly owned 1,297,893 shares in the company, valued at $14,419,591.23. This trade represents a 18.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Korro Bio Price Performance

NASDAQ:KRRO traded down $0.26 during trading hours on Thursday, reaching $11.50. 92,041 shares of the company were exchanged, compared to its average volume of 184,676. The firm has a market cap of $108.33 million, a price-to-earnings ratio of -1.22 and a beta of 2.98. The stock has a 50 day simple moving average of $10.90 and a 200 day simple moving average of $20.23. Korro Bio, Inc. has a 52-week low of $5.20 and a 52-week high of $55.89.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Thursday, March 12th. The company reported ($5.32) earnings per share for the quarter. Korro Bio had a negative net margin of 1,199.53% and a negative return on equity of 68.87%. The business had revenue of $1.29 million for the quarter. On average, analysts predict that Korro Bio, Inc. will post -9.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on KRRO. William Blair upgraded Korro Bio from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 17th. Clear Str upgraded shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Chardan Capital raised Korro Bio from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Thursday, January 29th. Wall Street Zen downgraded shares of Korro Bio from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Finally, HC Wainwright restated a “neutral” rating on shares of Korro Bio in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.38.

Key Korro Bio News

Here are the key news stories impacting Korro Bio this week:

• Positive Sentiment: Multiple major shareholders and investors materially bought stock on March 10 — including Anthony A. Florence Jr., Paul E. Walker, Mohamad Makhzoumi, Edward T. Mathers, Forest Baskett, Rick Yang, Scott D. Sandell and Enterprise Associates 17 New — each acquiring 207,100 shares at $11.11, increasing their individual stakes by ~18.99%. Insider and large?holder purchases often signal confidence in company prospects. SEC Filing (example)
• Positive Sentiment: Company reported an oversubscribed $85 million private placement that management says extends the cash runway into H2 2028 — reduces near?term financing risk and supports ongoing programs. The corporate update also cited nominations of development candidates (KRRO?121 for hyperammonemia indications and an advanced GalNAc conjugate program for alpha?1 antitrypsin deficiency), indicating R&D progress. GlobeNewswire Press Release
• Negative Sentiment: Quarterly results were weak: KRRO reported a Q4 EPS loss of $(5.32), far worse than the consensus loss of $(1.93), with only $1.29M in revenue and a deeply negative net margin and ROE. The magnitude of the miss raises execution and cost concerns and likely pressured the stock despite the financing and insider buying. Zacks Coverage of Q4 Results

Hedge Funds Weigh In On Korro Bio

Several large investors have recently made changes to their positions in KRRO. Russell Investments Group Ltd. bought a new stake in Korro Bio in the third quarter valued at about $39,000. Wells Fargo & Company MN boosted its stake in Korro Bio by 45.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock worth $60,000 after purchasing an additional 2,352 shares during the period. Guggenheim Capital LLC bought a new position in shares of Korro Bio during the fourth quarter worth about $84,000. Jain Global LLC acquired a new stake in Korro Bio in the 4th quarter valued at $85,000. Finally, Deutsche Bank AG grew its stake in Korro Bio by 241.9% in 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 in the last quarter. Institutional investors and hedge funds own 13.18% of the company’s stock.

Korro Bio Company Profile

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.