Korro Bio’s (KRRO) “Outperform” Rating Reiterated at Royal Bank of Canada

Korro Bio (NASDAQ:KRRO)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They presently have a $95.00 target price on the stock. Royal Bank of Canada’s price target suggests a potential upside of 147.52% from the company’s current price.

A number of other equities analysts have also issued reports on KRRO. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of Korro Bio in a research note on Tuesday. William Blair started coverage on shares of Korro Bio in a report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $135.00.

Korro Bio Trading Up 4.5 %

KRRO stock traded up $1.65 during trading on Thursday, reaching $38.38. 7,014 shares of the company’s stock were exchanged, compared to its average volume of 51,504. Korro Bio has a 1-year low of $9.15 and a 1-year high of $97.91. The company’s fifty day moving average price is $43.88 and its 200-day moving average price is $51.40.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.04). As a group, research analysts expect that Korro Bio will post -10.29 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds have recently added to or reduced their stakes in KRRO. Brown Brothers Harriman & Co. acquired a new stake in Korro Bio in the second quarter valued at approximately $28,000. Lynx1 Capital Management LP bought a new stake in Korro Bio in the second quarter worth $129,000. Rhumbline Advisers acquired a new position in Korro Bio during the second quarter worth $279,000. Bank of New York Mellon Corp acquired a new stake in shares of Korro Bio in the second quarter worth about $649,000. Finally, Tri Locum Partners LP acquired a new position in shares of Korro Bio during the 2nd quarter valued at about $2,419,000. 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).