Korro Bio downgraded to Hold from Buy at Clear Street

Clear Street downgraded Korro Bio (KRRO) to Hold from Buy with a price target of $7, down from $93. The company’s lead asset KRRO-110 failed to produce protective levels of corrected protein in a Phase 1/2 AATD trial, triggering discontinuation of development, the analyst tells investors in a research note. With this step back on timeline and abandoning the LNP delivery, the firm sees Korro’s positioning in AATD as compromised, Clear Street added.