Korro Bio, Inc. (NASDAQ:KRRO) Given Consensus Recommendation of “Buy” by Brokerages

Korro Bio, Inc. (NASDAQ:KRRO) has earned an average rating of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $120.43.

Several analysts recently issued reports on KRRO shares. Oppenheimer assumed coverage on shares of Korro Bio in a report on Friday, January 10th. They set an “outperform” rating and a $155.00 price objective for the company. Chardan Capital began coverage on shares of Korro Bio in a research note on Wednesday, April 16th. They issued a “buy” rating and a $25.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $115.00 price objective on shares of Korro Bio in a research note on Thursday, March 20th. Finally, Royal Bank of Canada reduced their target price on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th.

Korro Bio Price Performance

Korro Bio stock opened at $13.90 on Monday. Korro Bio has a fifty-two week low of $11.13 and a fifty-two week high of $98.00. The company has a market cap of $130.51 million, a P/E ratio of -1.48 and a beta of 2.31. The firm’s 50 day simple moving average is $20.84 and its 200-day simple moving average is $38.01.

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

Institutional Trading of Korro Bio

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Korro Bio by 128,950.0% in the first quarter. GAMMA Investing LLC now owns 10,324 shares of the company’s stock valued at $180,000 after purchasing an additional 10,316 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Korro Bio by 11.5% in the fourth quarter. Wellington Management Group LLP now owns 14,553 shares of the company’s stock valued at $554,000 after acquiring an additional 1,501 shares during the last quarter. California State Teachers Retirement System raised its holdings in Korro Bio by 997.3% during the fourth quarter. California State Teachers Retirement System now owns 4,850 shares of the company’s stock worth $185,000 after acquiring an additional 4,408 shares in the last quarter. Woodline Partners LP acquired a new position in Korro Bio during the fourth quarter valued at approximately $3,887,000. Finally, Point72 Asset Management L.P. grew its stake in Korro Bio by 11.0% in the fourth quarter. Point72 Asset Management L.P. now owns 493,997 shares of the company’s stock valued at $18,806,000 after purchasing an additional 49,147 shares in the last quarter. Institutional investors own 13.18% of the company’s stock.

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).