Royal Bank of Canada Increases Korro Bio (NASDAQ:KRRO) Price Target to $105.00

Korro Bio (NASDAQ:KRRO) had its price objective upped by Royal Bank of Canada from $95.00 to $105.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 49.96% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright boosted their price objective on Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 18th. William Blair started coverage on Korro Bio in a research note on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price target for the company. Finally, Raymond James started coverage on Korro Bio in a research note on Monday. They set a “strong-buy” rating and a $153.00 price target for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $142.17.

Korro Bio Trading Down 7.7 %

Shares of NASDAQ KRRO opened at $70.02 on Monday. Korro Bio has a twelve month low of $9.15 and a twelve month high of $98.00. The stock has a 50 day moving average of $43.72 and a two-hundred day moving average of $47.38.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). On average, equities research analysts forecast that Korro Bio will post -10.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vineet Agarwal sold 10,216 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a document filed with the SEC, which is available at this link. 16.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new position in Korro Bio during the second quarter worth $28,000. Lynx1 Capital Management LP acquired a new stake in Korro Bio in the second quarter valued at $129,000. Rhumbline Advisers acquired a new stake in Korro Bio in the second quarter valued at $279,000. Atlas Venture Life Science Advisors LLC grew its holdings in Korro Bio by 1.6% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock valued at $38,515,000 after purchasing an additional 17,857 shares during the last quarter. Finally, NEA Management Company LLC grew its holdings in Korro Bio by 1.7% in the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after purchasing an additional 17,857 shares during the last quarter. Institutional investors and hedge funds own 13.18% of the company’s stock.

Korro Bio Company Profile

Korro Bio, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of genetic medicines based on editing RNA for the treatment of rare and highly prevalent diseases primarily in the United States. Its lead product candidate is KRRO-110 which is in preclinical trials for the treatment of Alpha-1 Antitrypsin Deficiency (AATD).