Korro Bio (NASDAQ:KRRO) Coverage Initiated at Chardan Capital

Equities researchers at Chardan Capital started coverage on shares of Korro Bio (NASDAQ:KRRO) in a report issued on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $25.00 price target on the stock. Chardan Capital’s target price would indicate a potential upside of 79.86% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $115.00 price target on shares of Korro Bio in a research note on Thursday, March 20th. Royal Bank of Canada decreased their price objective on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, March 19th. Finally, Oppenheimer assumed coverage on shares of Korro Bio in a research report on Friday, January 10th. They set an “outperform” rating and a $155.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $120.43.

Korro Bio Stock Up 3.3 %

NASDAQ KRRO opened at $13.90 on Wednesday. Korro Bio has a 52 week low of $11.13 and a 52 week high of $98.00. The company has a 50 day moving average price of $21.17 and a 200 day moving average price of $38.06. The firm has a market cap of $130.51 million, a PE ratio of -1.48 and a beta of 2.31.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.33) by $0.07. The business had revenue of $2.27 million for the quarter. On average, equities research analysts anticipate that Korro Bio will post -9.52 earnings per share for the current fiscal year.

Institutional Trading of Korro Bio

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in shares of Korro Bio by 1,018.2% in the third quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock worth $164,000 after acquiring an additional 4,470 shares during the period. State Street Corp grew its position in Korro Bio by 18.9% during the 3rd quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after purchasing an additional 18,877 shares during the period. Wellington Management Group LLP acquired a new stake in Korro Bio during the 3rd quarter worth about $436,000. JPMorgan Chase & Co. raised its stake in shares of Korro Bio by 374.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,391 shares of the company’s stock valued at $414,000 after buying an additional 9,782 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Korro Bio by 7.8% in the 4th quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock valued at $366,000 after buying an additional 691 shares during the period. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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).