HC Wainwright Reiterates Buy Rating for Korro Bio (NASDAQ:KRRO)

Korro Bio (NASDAQ:KRRO)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $115.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 384.01% from the stock’s current price.

KRRO has been the subject of several other research reports. Royal Bank of Canada reduced their price target on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday. Oppenheimer began coverage on shares of Korro Bio in a research report on Friday, January 10th. They set an “outperform” rating and a $155.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $142.57.

Korro Bio Trading Up 8.5 %

NASDAQ KRRO opened at $23.76 on Thursday. Korro Bio has a 1 year low of $18.50 and a 1 year high of $98.00. The company has a fifty day moving average price of $29.88 and a 200-day moving average price of $41.39.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, beating the consensus estimate of ($2.33) by $0.07. The company had revenue of $2.27 million for the quarter. Equities research analysts forecast that Korro Bio will post -9.52 EPS for the current year.

Institutional Investors Weigh In On Korro Bio

Several hedge funds have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS purchased a new position in shares of Korro Bio during the fourth quarter worth approximately $53,000. Quest Partners LLC raised its stake in shares of Korro Bio by 172.1% during the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after acquiring an additional 1,124 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Korro Bio by 23.2% during the fourth quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock worth $83,000 after acquiring an additional 412 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Korro Bio by 251.0% during the third quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company’s stock worth $95,000 after acquiring an additional 2,041 shares in the last quarter. Finally, Vestcor Inc purchased a new position in shares of Korro Bio during the third quarter worth approximately $100,000. 13.18% of the stock is currently owned by institutional investors.

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).