Korro Bio (NASDAQ:KRRO) Given “Buy” Rating at Chardan Capital

Korro Bio (NASDAQ:KRRO)‘s stock had its “buy” rating reaffirmed by research analysts at Chardan Capital in a research note issued on Tuesday,Benzinga reports. They currently have a $25.00 price target on the stock. Chardan Capital’s price target would suggest a potential upside of 77.18% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Oppenheimer cut their price objective on Korro Bio from $155.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday. Cantor Fitzgerald raised Korro Bio to a “strong-buy” rating in a report on Tuesday, April 29th. HC Wainwright cut their price objective on Korro Bio from $115.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Royal Bank of Canada cut their price objective on Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $104.63.

Korro Bio Stock Down 9.3%

NASDAQ:KRRO opened at $14.11 on Tuesday. Korro Bio has a twelve month low of $11.13 and a twelve month high of $98.00. The business has a 50 day moving average price of $17.37 and a two-hundred day moving average price of $33.46. The company has a market cap of $132.51 million, a P/E ratio of -1.49 and a beta of 2.66.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($2.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.60) by $0.11. The firm had revenue of $2.55 million for the quarter, compared to analyst estimates of $0.13 million. As a group, analysts anticipate that Korro Bio will post -9.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Korro Bio

Several hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its holdings in Korro Bio by 23.2% during the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock valued at $83,000 after purchasing an additional 412 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Korro Bio by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company’s stock valued at $563,000 after purchasing an additional 435 shares during the last quarter. Bank of America Corp DE lifted its holdings in Korro Bio by 9.0% during the 4th quarter. Bank of America Corp DE now owns 7,037 shares of the company’s stock valued at $268,000 after purchasing an additional 581 shares during the last quarter. Rhumbline Advisers lifted its holdings in Korro Bio by 7.8% during the 4th quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock valued at $366,000 after purchasing an additional 691 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in Korro Bio by 5.7% during the 4th quarter. Blair William & Co. IL now owns 12,895 shares of the company’s stock valued at $491,000 after purchasing an additional 695 shares during the last quarter. Institutional investors and hedge funds own 13.18% 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).