Todd Chappell Sells 3,168 Shares of Korro Bio (NASDAQ:KRRO) Stock

by · The Markets Daily

Korro Bio, Inc. (NASDAQ:KRRO – Get Free Report) COO Todd Chappell sold 3,168 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $10.83, for a total transaction of $34,309.44. Following the completion of the sale, the chief operating officer owned 16,964 shares in the company, valued at $183,720.12. This represents a 15.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Korro Bio Trading Up 3.7%

Shares of KRRO traded up $0.39 on Wednesday, reaching $11.05. The company’s stock had a trading volume of 143,415 shares, compared to its average volume of 194,060. Korro Bio, Inc. has a twelve month low of $5.20 and a twelve month high of $55.89. The stock has a market capitalization of $159.37 million, a PE ratio of -0.95 and a beta of 3.01. The firm has a fifty day moving average of $12.24 and a 200-day moving average of $10.83.

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

Institutional Trading of Korro Bio

A number of hedge funds have recently made changes to their positions in KRRO. Russell Investments Group Ltd. bought a new stake in shares of Korro Bio during the 3rd quarter worth $39,000. Wells Fargo & Company MN raised its position 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 purchased a new position in shares of Korro Bio in the fourth quarter valued at about $84,000. Jain Global LLC purchased a new position in shares of Korro Bio in the fourth quarter valued at about $85,000. Finally, Deutsche Bank AG increased its position in shares of 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 acquiring an additional 9,027 shares during the period. 13.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KRRO has been the subject of several analyst reports. Clear Str upgraded shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Lifesci Capital upgraded shares of Korro Bio to a “strong-buy” rating in a research note on Friday, May 29th. William Blair upgraded shares of Korro Bio from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 17th. JonesTrading raised shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Finally, Wall Street Zen raised shares of Korro Bio from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Korro Bio has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

Get Our Latest Analysis on Korro Bio

About Korro Bio

(Get Free Report)

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.

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