Analysts Set Korro Bio, Inc. (NASDAQ:KRRO) PT at $138.00

Korro Bio, Inc. (NASDAQ:KRRO) has been assigned a consensus rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $142.17.

KRRO has been the topic of a number of recent research reports. Raymond James began coverage on shares of Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price target on the stock. William Blair began coverage on shares of Korro Bio in a report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 target price on the stock. Royal Bank of Canada lifted their target price on shares of 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 upped their price target on shares of Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, October 18th.

Insider Transactions at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 10,216 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total value of $799,504.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KRRO. Brown Brothers Harriman & Co. bought a new stake in shares of Korro Bio during the 2nd quarter valued at about $28,000. Lynx1 Capital Management LP purchased a new stake in Korro Bio in the second quarter worth about $129,000. Rhumbline Advisers purchased a new position in shares of Korro Bio during the 2nd quarter worth approximately $279,000. Atlas Venture Life Science Advisors LLC raised its position in shares of Korro Bio by 1.6% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock worth $38,515,000 after acquiring an additional 17,857 shares in the last quarter. Finally, NEA Management Company LLC lifted its stake in shares of Korro Bio by 1.7% in the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after purchasing an additional 17,857 shares during the period. 13.18% of the stock is owned by hedge funds and other institutional investors.

Korro Bio Price Performance

Shares of KRRO stock opened at $68.15 on Monday. The company’s fifty day simple moving average is $45.23 and its two-hundred day simple moving average is $47.22. Korro Bio has a 1 year low of $9.15 and a 1 year high of $98.00.

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

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).