William Blair Has Positive View of Korro Bio FY2024 Earnings

Korro Bio, Inc. (NASDAQ:KRRO) – Equities research analysts at William Blair lifted their FY2024 earnings per share estimates for shares of Korro Bio in a research report issued on Wednesday, November 13th. William Blair analyst M. Minter now anticipates that the company will post earnings per share of ($9.80) for the year, up from their prior forecast of ($10.56). William Blair has a “Outperform” rating on the stock. The consensus estimate for Korro Bio’s current full-year earnings is ($9.63) per share. William Blair also issued estimates for Korro Bio’s Q4 2024 earnings at ($2.68) EPS, Q1 2025 earnings at ($2.79) EPS, Q2 2025 earnings at ($2.89) EPS, Q3 2025 earnings at ($2.93) EPS, Q4 2025 earnings at ($2.99) EPS, FY2025 earnings at ($11.60) EPS, FY2026 earnings at ($12.56) EPS, FY2027 earnings at ($13.59) EPS and FY2028 earnings at ($12.97) EPS.

A number of other research firms have also issued reports on KRRO. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a report on Wednesday, November 13th. 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 objective for the company. Finally, 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. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $142.17.

Korro Bio Price Performance

KRRO opened at $46.63 on Monday. The stock’s 50 day moving average price is $50.36 and its two-hundred day moving average price is $46.51. Korro Bio has a 12-month low of $30.00 and a 12-month high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.55) by $0.29.

Hedge Funds Weigh In On Korro Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. bought a new position in shares of Korro Bio during the 2nd quarter worth approximately $28,000. Quest Partners LLC lifted its position in shares of Korro Bio by 172.1% during the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after buying an additional 1,124 shares during the period. Vestcor Inc bought a new position in shares of Korro Bio during the 3rd quarter worth approximately $100,000. MetLife Investment Management LLC lifted its position in shares of Korro Bio by 129.0% during the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after buying an additional 2,050 shares during the period. Finally, Lynx1 Capital Management LP bought a new position in shares of Korro Bio during the 2nd quarter worth approximately $129,000. Institutional investors own 13.18% of the company’s stock.

Insiders Place Their Bets

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 transaction of $56,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.40% of the company’s stock.

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).