Korro Bio (NASDAQ:KRRO) Receives New Coverage from Analysts at Raymond James

Raymond James began coverage on shares of Korro Bio (NASDAQ:KRRO) in a report published on Monday, Marketbeat.com reports. The firm issued a strong-buy rating and a $153.00 price objective on the stock.

Several other brokerages have also recently weighed in on KRRO. William Blair started coverage on Korro Bio in a report on Wednesday, August 14th. They issued an “outperform” rating and a $180.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Korro Bio in a report on Thursday, September 19th. Finally, HC Wainwright lifted their price objective on Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 18th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $142.17.

Korro Bio Stock Performance

KRRO opened at $68.13 on Monday. The business has a fifty day simple moving average of $44.28 and a 200 day simple moving average of $47.52. Korro Bio has a 1 year low of $9.15 and a 1 year high of $98.00.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.04). As a group, sell-side analysts anticipate that Korro Bio will post -10.09 EPS for the current year.

Insider Transactions at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Korro Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in Korro Bio during the 2nd quarter worth $28,000. Lynx1 Capital Management LP bought a new stake in Korro Bio during the 2nd quarter worth $129,000. Rhumbline Advisers bought a new stake in Korro Bio during the 2nd quarter worth $279,000. Bank of New York Mellon Corp bought a new stake in Korro Bio during the 2nd quarter worth $649,000. Finally, Tri Locum Partners LP bought a new stake in Korro Bio during the 2nd quarter worth $2,419,000. 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).