Korro Bio (NASDAQ:KRRO) Coverage Initiated at Raymond James

Investment analysts at Raymond James started coverage on shares of Korro Bio (NASDAQ:KRRO) in a research report issued on Monday, MarketBeat reports. The firm set a “strong-buy” rating and a $153.00 price target on the stock. Raymond James’ price target indicates a potential upside of 118.51% from the stock’s current price.

A number of other equities analysts have also recently commented on KRRO. William Blair assumed coverage on shares of Korro Bio in a research note on Wednesday, August 14th. They issued an “outperform” rating and a $180.00 price objective for the company. HC Wainwright raised their target price on shares of Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Korro Bio in a report on Thursday, September 19th. 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 MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $142.17.

Korro Bio Price Performance

Shares of NASDAQ KRRO opened at $70.02 on Monday. The firm has a fifty day moving average price of $43.72 and a 200-day moving average price of $47.38. Korro Bio has a 1 year low of $9.15 and a 1 year high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.04). As a group, equities analysts expect that Korro Bio will post -10.09 EPS for the current year.

Insider Activity at Korro Bio

In related news, CFO Vineet Agarwal sold 10,216 shares of Korro Bio stock in a transaction dated Thursday, October 17th. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. 16.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Korro Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in Korro Bio during the 2nd quarter valued at about $649,000. Rhumbline Advisers purchased a new position in Korro Bio during the 2nd quarter valued at about $279,000. Atlas Venture Life Science Advisors LLC increased its position in Korro Bio by 1.6% during the 2nd 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 period. Brown Brothers Harriman & Co. purchased a new position in Korro Bio during the 2nd quarter valued at about $28,000. Finally, Tri Locum Partners LP purchased a new position in Korro Bio during the 2nd quarter valued at about $2,419,000. Institutional investors 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).