Korro Bio (NASDAQ:KRRO) SVP Sells $99,257.97 in Stock

Korro Bio, Inc. (NASDAQ:KRRO) SVP Oliver Dolan sold 7,347 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $13.51, for a total value of $99,257.97. Following the completion of the transaction, the senior vice president directly owned 16,252 shares in the company, valued at approximately $219,564.52. The trade was a 31.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Oliver Dolan also recently made the following trade(s):

• On Wednesday, September 9th, Oliver Dolan sold 6 shares of Korro Bio stock. The stock was sold at an average price of $13.60, for a total value of $81.60.

Korro Bio Stock Up 5.7%

Shares of NASDAQ KRRO opened at $13.81 on Friday. The firm has a 50-day moving average price of $12.62 and a 200 day moving average price of $12.33. Korro Bio, Inc. has a 52 week low of $5.20 and a 52 week high of $55.89. The stock has a market capitalization of $203.42 million, a price-to-earnings ratio of -1.38 and a beta of 3.09.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.07) EPS for the quarter, topping 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%. Equities research analysts expect that Korro Bio, Inc. will post -4.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KRRO shares. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Korro Bio in a research note on Thursday, August 20th. Citigroup assumed coverage on Korro Bio in a report on Monday, May 18th. They issued a “buy” rating and a $21.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a research report on Monday, July 6th. Lifesci Capital raised Korro Bio to a “strong-buy” rating in a research note on Friday, May 29th. Finally, Wall Street Zen upgraded Korro Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in shares of Korro Bio in the 3rd quarter valued at about $39,000. Wells Fargo & Company MN increased its position in Korro Bio by 45.5% during 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in Korro Bio by 15.2% in the first quarter. Bank of New York Mellon Corp now owns 21,730 shares of the company’s stock valued at $246,000 after buying an additional 2,875 shares during the period. Millennium Management LLC raised its holdings in Korro Bio by 1.8% in the third quarter. Millennium Management LLC now owns 260,333 shares of the company’s stock valued at $12,467,000 after buying an additional 4,650 shares during the period. Finally, Algert Global LLC acquired a new position in Korro Bio during the third quarter valued at approximately $340,000. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

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.