Korro Bio (NASDAQ:KRRO) Announces Earnings Results, Beats Estimates By $0.29 EPS

Korro Bio (NASDAQ:KRRO) released its earnings results on Tuesday. The company reported ($2.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29, Zacks reports.

Korro Bio Stock Down 10.3 %

Shares of KRRO stock traded down $6.71 during trading on Wednesday, reaching $58.43. The company had a trading volume of 280,236 shares, compared to its average volume of 69,448. The firm’s 50 day simple moving average is $49.52 and its two-hundred day simple moving average is $46.86. Korro Bio has a one year low of $30.00 and a one year high of $98.00.

Insider Activity at Korro Bio

In related news, CFO Vineet Agarwal sold 800 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 SEC, which can be accessed through this hyperlink. 5.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KRRO shares. Raymond James started coverage on Korro Bio in a research report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price target for the company. William Blair restated an “outperform” rating on shares of Korro Bio in a research report on Wednesday. Royal Bank of Canada raised their price objective on Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Korro Bio in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $142.17.

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).