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 research report sent to investors on Monday, Marketbeat.com reports. The brokerage issued a strong-buy rating and a $153.00 price objective on the stock.

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

Korro Bio Price Performance

Shares of Korro Bio stock opened at $68.13 on Monday. The business’s 50 day simple moving average is $44.28 and its 200 day simple moving average is $47.52. Korro Bio has a 52-week low of $9.15 and a 52-week high of $98.00.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). As a group, equities analysts forecast that Korro Bio will post -10.09 earnings per share for the current fiscal year.

Insider Transactions at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of Korro Bio stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. bought a new position in shares of Korro Bio during the 2nd quarter worth approximately $28,000. Lynx1 Capital Management LP bought a new stake in Korro Bio in the 2nd quarter valued at $129,000. Rhumbline Advisers bought a new stake in Korro Bio in the 2nd quarter valued at $279,000. Bank of New York Mellon Corp bought a new stake in Korro Bio in the 2nd quarter valued at $649,000. Finally, Tri Locum Partners LP bought a new stake in Korro Bio in the 2nd quarter valued at $2,419,000. 13.18% of the stock is currently owned by institutional investors.

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).