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

Korro Bio, Inc. (NASDAQ:KRRO) has been given an average rating of “Buy” by the six ratings firms that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $142.17.

Several research firms have issued reports on KRRO. Raymond James began coverage on Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Korro Bio in a research report on Wednesday. William Blair reiterated an “outperform” rating on shares of Korro Bio in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price objective on Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, October 21st.

Korro Bio Trading Down 9.7 %

Shares of Korro Bio stock opened at $49.70 on Friday. Korro Bio has a twelve month low of $30.00 and a twelve month high of $98.00. The business’s 50 day simple moving average is $49.77 and its 200-day simple moving average is $46.92.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, beating the consensus estimate of ($2.55) by $0.29. Research analysts anticipate that Korro Bio will post -10.02 earnings per share for the current fiscal year.

Insider Activity

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of Korro Bio

Large investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. bought a new position in shares of Korro Bio in the 2nd quarter valued at approximately $28,000. Quest Partners LLC lifted its stake in shares of Korro Bio by 172.1% in the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after buying an additional 1,124 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Korro Bio by 129.0% in the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after acquiring an additional 2,050 shares during the period. Lynx1 Capital Management LP acquired a new position in Korro Bio during the 2nd quarter worth $129,000. Finally, BNP Paribas Financial Markets boosted its holdings in Korro Bio by 1,018.2% during the third quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock valued at $164,000 after acquiring an additional 4,470 shares during the period. Institutional investors 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).