Insider Selling: Korro Bio (NASDAQ:KRRO) Director Sells $39,897.00 in Stock

Korro Bio, Inc. (NASDAQ:KRRO) Director Jean Francois Formela sold 2,860 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $13.95, for a total transaction of $39,897.00. Following the transaction, the director owned 194,655 shares of the company’s stock, valued at approximately $2,715,437.25. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Korro Bio Price Performance

NASDAQ:KRRO opened at $11.05 on Thursday. The stock has a market cap of $159.27 million, a P/E ratio of -0.95 and a beta of 3.00. Korro Bio, Inc. has a one year low of $5.20 and a one year high of $55.89. The company has a fifty day moving average price of $12.37 and a 200 day moving average price of $10.52.

Korro Bio (NASDAQ:KRRO) last released its earnings results on Thursday, May 7th. The company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.09). Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 117.86%. As a group, equities research analysts anticipate that Korro Bio, Inc. will post -5.36 EPS for the current year.

Korro Bio News Roundup

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

• Negative Sentiment: CEO Ram Aiyar sold 15,152 shares at an average price of $12.98, trimming his stake by 16.84%. Although the company said the sale was to cover tax withholding obligations from vested equity awards, investors often view insider selling as a bearish signal. SEC filing
• Negative Sentiment: Director Jean Francois Formela also sold 2,860 shares at $13.95 under a pre-arranged Rule 10b5-1 trading plan, adding to the recent insider-selling overhang on KRRO. SEC filing
• Neutral Sentiment: Lifesci Capital reiterated a Strong-Buy view on Korro Bio and published earnings estimates that were modestly better than consensus across several future periods. That supports the long-term story, but it does not change the fact that the company is still expected to post significant losses.
• Negative Sentiment: The company’s most recent quarterly report missed EPS expectations, and Korro Bio continues to post large losses, reinforcing concerns about profitability and cash burn.

Institutional Investors Weigh In On Korro Bio

Several institutional investors and hedge funds have recently bought and sold shares of KRRO. Affinity Asset Advisors LLC bought a new stake in Korro Bio in the 1st quarter valued at $8,002,000. Nantahala Capital Management LLC bought a new stake in Korro Bio in the 4th quarter valued at $4,806,000. ADAR1 Capital Management LLC bought a new stake in Korro Bio in the 1st quarter valued at $6,113,000. TCG Crossover Management LLC bought a new stake in shares of Korro Bio in the 3rd quarter worth about $19,937,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Korro Bio by 6,185.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 199,249 shares of the company’s stock worth $9,542,000 after purchasing an additional 196,079 shares during the last quarter. Institutional investors own 13.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KRRO shares. Clear Str upgraded shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. William Blair upgraded shares of Korro Bio from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 17th. HC Wainwright cut their target price on shares of Korro Bio from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. JonesTrading upgraded shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. Finally, Lifesci Capital upgraded shares of Korro Bio to a “strong-buy” rating in a research note on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.