Oppenheimer Lowers Korro Bio (NASDAQ:KRRO) Price Target to $90.00

Korro Bio (NASDAQ:KRRO) had its price target cut by Oppenheimer from $155.00 to $90.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada decreased their price objective 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. Chardan Capital began coverage on shares of Korro Bio in a research report on Wednesday, April 16th. They set a “buy” rating and a $25.00 target price on the stock. HC Wainwright reduced their target price on shares of Korro Bio from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald raised Korro Bio to a “strong-buy” rating in a research note on Tuesday, April 29th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $102.43.

Korro Bio Stock Performance

NASDAQ:KRRO opened at $14.48 on Tuesday. The firm’s 50-day moving average is $17.24 and its 200-day moving average is $33.11. Korro Bio has a 52-week low of $11.13 and a 52-week high of $98.00. The company has a market cap of $135.98 million, a price-to-earnings ratio of -1.53 and a beta of 2.66.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Wednesday, May 7th. The company reported ($2.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.60) by $0.11. The business had revenue of $2.55 million during the quarter, compared to the consensus estimate of $0.13 million. Equities analysts predict that Korro Bio will post -9.52 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

A number of large investors have recently added to or reduced their stakes in the company. AlphaQuest LLC increased its holdings in Korro Bio by 23.2% during the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock worth $83,000 after purchasing an additional 412 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Korro Bio by 3.0% in 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 stake in Korro Bio by 9.0% in 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 stake in 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 purchasing an additional 691 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in Korro Bio by 5.7% in 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 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).