Korro Bio, Inc. (NASDAQ:KRRO) Receives $144.00 Consensus Target Price from Analysts

Korro Bio, Inc. (NASDAQ:KRRO) has been assigned an average recommendation of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $144.00.

KRRO has been the subject of several analyst reports. William Blair reissued an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Raymond James assumed coverage on Korro Bio in a research note on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective for the company. Oppenheimer started coverage on Korro Bio in a research note on Friday, January 10th. They issued an “outperform” rating and a $155.00 target price on the stock. Royal Bank of Canada raised their price target on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, HC Wainwright reissued a “buy” rating and set a $115.00 price objective on shares of Korro Bio in a report on Friday, November 22nd.

Insider Transactions at Korro Bio

In other news, CFO Vineet Agarwal sold 800 shares of the company’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Korro Bio

Several institutional investors have recently added to or reduced their stakes in KRRO. Bank of New York Mellon Corp lifted its stake in shares of Korro Bio by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company’s stock valued at $563,000 after acquiring an additional 435 shares during the last quarter. Rhumbline Advisers increased its stake in Korro Bio by 7.8% in the 4th quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock worth $366,000 after purchasing an additional 691 shares during the period. Quest Partners LLC lifted its position in Korro Bio by 172.1% in the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after purchasing an additional 1,124 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Korro Bio by 251.0% during the third quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company’s stock valued at $95,000 after purchasing an additional 2,041 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in shares of Korro Bio by 129.0% in the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after purchasing an additional 2,050 shares during the last quarter. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Korro Bio Stock Performance

Shares of NASDAQ KRRO opened at $35.94 on Wednesday. Korro Bio has a 52 week low of $30.00 and a 52 week high of $98.00. The business has a 50-day simple moving average of $41.63 and a two-hundred day simple moving average of $45.53.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. On average, equities research analysts expect that Korro Bio will post -9.52 EPS for the current fiscal year.

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).