Korro Bio, Inc. (NASDAQ:KRRO) Receives Consensus Rating of “Buy” from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $144.00.

Several brokerages have recently weighed in on KRRO. HC Wainwright reissued a “buy” rating and issued a $115.00 price objective on shares of Korro Bio in a research report on Friday, November 22nd. Raymond James began coverage on shares of Korro Bio in a research report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price objective on the stock. Oppenheimer began coverage on shares of Korro Bio in a research report on Friday, January 10th. They issued an “outperform” rating and a $155.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada upped their price target on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, October 21st.

Insiders Place Their Bets

In other news, CFO Vineet Agarwal sold 800 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $70.00, for a total value of $56,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in shares of Korro Bio by 38.3% in the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock valued at $2,852,000 after purchasing an additional 23,307 shares in the last quarter. State Street Corp boosted its stake in shares of Korro Bio by 18.9% in the 3rd quarter. State Street Corp now owns 118,765 shares of the company’s stock valued at $3,969,000 after purchasing an additional 18,877 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Korro Bio in the 3rd quarter valued at approximately $436,000. Quest Partners LLC boosted its stake in shares of Korro Bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after purchasing an additional 1,124 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Korro Bio by 1,018.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock valued at $164,000 after purchasing an additional 4,470 shares in the last quarter. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Korro Bio Stock Down 2.2 %

NASDAQ KRRO opened at $36.11 on Wednesday. The firm’s fifty day moving average price is $43.18 and its two-hundred day moving average price is $46.06. Korro Bio has a 1 year low of $30.00 and a 1 year high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results 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. On average, analysts anticipate that Korro Bio will post -9.52 earnings per share for the current year.

About Korro Bio

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).