Brokerages Set Korro Bio, Inc. (NASDAQ:KRRO) PT at $138.00

Korro Bio, Inc. (NASDAQ:KRRO) has earned an average rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $142.17.

A number of equities research analysts recently commented on KRRO shares. HC Wainwright upped their target price on Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Raymond James began coverage on shares of Korro Bio in a report on Monday. They issued a “strong-buy” rating and a $153.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday. Finally, William Blair started coverage on shares of Korro Bio in a report on Wednesday, August 14th. They issued an “outperform” rating and a $180.00 price target on the stock.

Korro Bio Stock Performance

Shares of Korro Bio stock opened at $67.79 on Monday. Korro Bio has a 12-month low of $9.15 and a 12-month high of $98.00. The firm’s 50 day simple moving average is $44.28 and its two-hundred day simple moving average is $47.52.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($2.43) EPS for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). Sell-side analysts anticipate that Korro Bio will post -10.09 earnings per share for the current year.

Insider Activity at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of the 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 16.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KRRO. Brown Brothers Harriman & Co. purchased a new stake in Korro Bio during the 2nd quarter worth approximately $28,000. Lynx1 Capital Management LP acquired a new stake in shares of Korro Bio in the second quarter worth approximately $129,000. Rhumbline Advisers purchased a new stake in shares of Korro Bio during the second quarter worth approximately $279,000. Bank of New York Mellon Corp purchased a new stake in shares of Korro Bio during the second quarter worth approximately $649,000. Finally, Tri Locum Partners LP acquired a new position in Korro Bio in the 2nd quarter valued at $2,419,000. Institutional investors and hedge funds own 13.18% of the company’s stock.

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).