FY2024 EPS Estimates for Korro Bio Boosted by HC Wainwright

Korro Bio, Inc. (NASDAQ:KRRO) – Investment analysts at HC Wainwright upped their FY2024 EPS estimates for Korro Bio in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst M. Kapoor now anticipates that the company will earn ($9.49) per share for the year, up from their previous estimate of ($9.72). HC Wainwright has a “Buy” rating and a $115.00 price objective on the stock. The consensus estimate for Korro Bio’s current full-year earnings is ($9.63) per share. HC Wainwright also issued estimates for Korro Bio’s Q4 2024 earnings at ($2.38) EPS, Q1 2025 earnings at ($2.45) EPS, Q3 2025 earnings at ($2.58) EPS, Q4 2025 earnings at ($2.64) EPS and FY2025 earnings at ($10.19) EPS.

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

A number of other research analysts have also weighed in on KRRO. William Blair reissued an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Royal Bank of Canada upped their price objective on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Raymond James assumed coverage on shares of Korro Bio in a research note on Monday, October 21st. They set a “strong-buy” rating and a $153.00 target price for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Korro Bio presently has a consensus rating of “Buy” and a consensus price target of $142.17.

Korro Bio Stock Performance

NASDAQ:KRRO opened at $46.63 on Monday. Korro Bio has a 12-month low of $30.00 and a 12-month high of $98.00. The stock’s 50 day moving average price is $50.21 and its two-hundred day moving average price is $46.59.

Insider Buying and Selling at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $70.00, for a total value of $56,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KRRO. Millennium Management LLC grew its holdings in shares of Korro Bio by 38.3% during the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock worth $2,852,000 after purchasing an additional 23,307 shares in the last quarter. Tri Locum Partners LP acquired a new stake in Korro Bio during the second quarter worth about $2,419,000. NEA Management Company LLC increased its holdings in 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 buying an additional 17,857 shares during the period. 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 valued at $38,515,000 after buying an additional 17,857 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Korro Bio by 71.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock worth $15,448,000 after acquiring an additional 190,259 shares during the period. 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).