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

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have earned an average rating of “Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $142.17.

A number of research firms have recently commented on KRRO. William Blair reiterated an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th. Royal Bank of Canada increased their price objective on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Raymond James began coverage on shares of Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $115.00 price target on shares of Korro Bio in a research report on Friday, November 22nd.

Insider Transactions at Korro Bio

In related news, CFO Vineet Agarwal sold 800 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $70.00, for a total value of $56,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Korro Bio

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Korro Bio by 374.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,391 shares of the company’s stock worth $414,000 after purchasing an additional 9,782 shares during the period. Vestcor Inc acquired a new position in Korro Bio during the third quarter worth about $100,000. Wellington Management Group LLP purchased a new position in Korro Bio in the third quarter valued at about $436,000. State Street Corp lifted its position in shares of Korro Bio by 18.9% during the 3rd quarter. State Street Corp now owns 118,765 shares of the company’s stock valued at $3,969,000 after acquiring an additional 18,877 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in shares of 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. 13.18% of the stock is owned by hedge funds and other institutional investors.

Korro Bio Stock Up 4.4 %

Shares of KRRO opened at $42.84 on Friday. Korro Bio has a 52-week low of $30.00 and a 52-week high of $98.00. The stock has a 50 day moving average price of $51.11 and a 200 day moving average price of $45.75.

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, beating the consensus estimate of ($2.55) by $0.29. Research analysts anticipate that Korro Bio will post -9.63 EPS for the current year.

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).