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

Korro Bio (NASDAQ:KRRO)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $115.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 119.84% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. William Blair reissued an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Raymond James began coverage on Korro Bio in a research report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price target for the company. Finally, Royal Bank of Canada raised their price objective on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Korro Bio currently has an average rating of “Buy” and a consensus price target of $142.17.

Korro Bio Price Performance

KRRO opened at $52.31 on Friday. Korro Bio has a 12-month low of $30.00 and a 12-month high of $98.00. The business’s fifty day simple moving average is $50.90 and its 200-day simple moving average is $46.46.

Korro Bio (NASDAQ:KRRO) last issued its 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. Equities analysts predict that Korro Bio will post -9.63 earnings per share for the current fiscal year.

Insider Transactions at Korro Bio

In related news, CFO Vineet Agarwal sold 10,216 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total value of $799,504.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.40% of the company’s stock.

Institutional Trading of Korro Bio

Several large investors have recently bought and sold shares of the stock. Vestcor Inc purchased a new stake in Korro Bio during the 3rd quarter valued at about $100,000. Wellington Management Group LLP purchased a new stake in Korro Bio in the third quarter valued at approximately $436,000. State Street Corp increased its holdings in Korro Bio by 18.9% in the 3rd quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after buying an additional 18,877 shares during the period. MetLife Investment Management LLC raised its position in Korro Bio by 129.0% during the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after buying an additional 2,050 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Korro Bio by 1,018.2% during the 3rd 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. Hedge funds and other 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).