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

Korro Bio, Inc. (NASDAQ:KRRO) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $142.57.

Several research firms have recently weighed in on KRRO. HC Wainwright reissued a “buy” rating and issued a $115.00 price target on shares of Korro Bio in a research note on Thursday, March 20th. Oppenheimer began coverage on shares of Korro Bio in a research note on Friday, January 10th. They issued an “outperform” rating and a $155.00 target price on the stock. Finally, Royal Bank of Canada lowered their target price on Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, March 19th.

Korro Bio Price Performance

Shares of Korro Bio stock opened at $24.03 on Thursday. The stock has a market capitalization of $225.62 million, a P/E ratio of -2.56 and a beta of 2.13. The business has a 50 day simple moving average of $29.60 and a two-hundred day simple moving average of $41.23. Korro Bio has a 12 month low of $18.50 and a 12 month high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($2.26) EPS for the quarter, beating the consensus estimate of ($2.33) by $0.07. The firm had revenue of $2.27 million during the quarter. As a group, research analysts anticipate that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Trading of Korro Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC lifted its holdings 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 acquiring an additional 1,124 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Korro Bio by 251.0% in the 3rd 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 last quarter. BNP Paribas Financial Markets grew its holdings in shares of Korro Bio by 1,018.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock worth $164,000 after purchasing an additional 4,470 shares during the period. MetLife Investment Management LLC grew its holdings in shares of 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 purchasing an additional 2,050 shares during the period. Finally, State Street Corp increased 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 worth $3,969,000 after purchasing an additional 18,877 shares during the last quarter. 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).