William Blair Has Positive View of Korro Bio FY2024 Earnings

Korro Bio, Inc. (NASDAQ:KRRO) – Equities research analysts at William Blair boosted their FY2024 earnings estimates for Korro Bio in a note issued to investors on Wednesday, November 13th. William Blair analyst M. Minter now anticipates that the company will post earnings of ($9.80) per share for the year, up from their prior forecast of ($10.56). William Blair has a “Outperform” rating on the stock. The consensus estimate for Korro Bio’s current full-year earnings is ($9.63) per share. William Blair also issued estimates for Korro Bio’s Q4 2024 earnings at ($2.68) EPS, Q1 2025 earnings at ($2.79) EPS, Q2 2025 earnings at ($2.89) EPS, Q3 2025 earnings at ($2.93) EPS, Q4 2025 earnings at ($2.99) EPS, FY2025 earnings at ($11.60) EPS, FY2026 earnings at ($12.56) EPS, FY2027 earnings at ($13.59) EPS and FY2028 earnings at ($12.97) EPS.

KRRO has been the topic of several other research reports. Royal Bank of Canada raised their target price on Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. HC Wainwright reiterated a “buy” rating and issued a $115.00 price target on shares of Korro Bio in a research note on Wednesday, November 13th. Finally, Raymond James initiated coverage on shares of Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $142.17.

Korro Bio Stock Down 4.3 %

Shares of NASDAQ KRRO opened at $47.56 on Monday. The business has a 50-day moving average of $50.05 and a two-hundred day moving average of $46.68. Korro Bio has a 1 year low of $30.00 and a 1 year high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.55) by $0.29.

Insider Activity at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of Korro Bio stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total value of $799,504.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. purchased a new stake in shares of Korro Bio in the second quarter valued at about $28,000. Quest Partners LLC raised its stake in Korro Bio by 172.1% during the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after acquiring an additional 1,124 shares during the last quarter. MetLife Investment Management LLC raised its stake in Korro Bio by 129.0% during the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after acquiring an additional 2,050 shares during the last quarter. Vestcor Inc acquired a new stake in Korro Bio during the 3rd quarter worth approximately $100,000. Finally, Lynx1 Capital Management LP purchased a new position in shares of Korro Bio in the 2nd quarter valued at approximately $129,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

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).