Korro Bio, Inc. (NASDAQ:KRRO) Receives $142.17 Consensus Target Price from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $142.17.

Several research firms have issued reports on KRRO. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Korro Bio in a research report on Friday, November 22nd. Raymond James began coverage on shares of Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price on the stock. Royal Bank of Canada raised their target price on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, William Blair reissued an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th.

Insider Buying and Selling at Korro Bio

In other news, CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction on Monday, November 11th. The stock was sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds have recently bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new position in Korro Bio in the 2nd quarter valued at $28,000. Quest Partners LLC increased its position in shares of Korro Bio by 172.1% in the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after purchasing an additional 1,124 shares during the period. Vestcor Inc acquired a new position in Korro Bio in the third quarter valued at about $100,000. MetLife Investment Management LLC lifted its position in Korro Bio by 129.0% during 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 period. Finally, Lynx1 Capital Management LP acquired a new stake in Korro Bio during the second quarter worth about $129,000. 13.18% of the stock is owned by institutional investors.

Korro Bio Stock Down 2.0 %

NASDAQ:KRRO opened at $37.62 on Friday. The stock’s 50-day simple moving average is $49.20 and its 200 day simple moving average is $45.98. Korro Bio has a 52-week low of $30.00 and a 52-week high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, topping the consensus estimate of ($2.55) by $0.29. On average, analysts expect that Korro Bio will post -9.7 earnings per share for the current fiscal year.

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).