HC Wainwright Boosts Korro Bio (NASDAQ:KRRO) Price Target to $115.00

Korro Bio (NASDAQ:KRRO) had its price objective increased by HC Wainwright from $100.00 to $115.00 in a research report report published on Friday, Marketbeat.com reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on KRRO. William Blair assumed coverage on Korro Bio in a report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Korro Bio in a research note on Thursday, September 19th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $138.00.

Korro Bio Price Performance

KRRO stock opened at $80.04 on Friday. The firm has a 50 day simple moving average of $42.25 and a two-hundred day simple moving average of $47.33. Korro Bio has a one year low of $9.15 and a one year high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its earnings results on Tuesday, August 13th. The company reported ($2.43) EPS for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). As a group, sell-side analysts expect that Korro Bio will post -10.09 EPS for the current fiscal year.

Insider Activity at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 10,216 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total value of $799,504.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Korro Bio

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its position in Korro Bio by 38.3% during the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock valued at $2,852,000 after purchasing an additional 23,307 shares during the last quarter. Tri Locum Partners LP bought a new position in shares of Korro Bio during the second quarter valued at approximately $2,419,000. NEA Management Company LLC lifted its stake in Korro Bio by 1.7% in the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock worth $36,945,000 after acquiring an additional 17,857 shares during the period. Atlas Venture Life Science Advisors LLC boosted its holdings in Korro Bio by 1.6% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock valued at $38,515,000 after acquiring an additional 17,857 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Korro Bio by 71.6% in the second quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock worth $15,448,000 after buying an additional 190,259 shares during the period. 13.18% of the stock is owned by institutional investors.

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).