Korro Bio (NASDAQ:KRRO) Price Target Raised to $105.00

Korro Bio (NASDAQ:KRRO) had its price objective boosted by equities research analysts at Royal Bank of Canada from $95.00 to $105.00 in a report released on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 49.96% from the company’s current price.

A number of other research firms have also commented on KRRO. HC Wainwright increased their price objective on Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Raymond James assumed coverage on Korro Bio in a research note on Monday. They set a “strong-buy” rating and a $153.00 price objective on the stock. Finally, William Blair assumed coverage on Korro Bio in a research note on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $142.17.

Korro Bio Price Performance

Korro Bio stock opened at $70.02 on Monday. Korro Bio has a fifty-two week low of $9.15 and a fifty-two week high of $98.00. The stock’s fifty day moving average is $43.72 and its two-hundred day moving average is $47.38.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($2.43) EPS for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). Research analysts anticipate that Korro Bio will post -10.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vineet Agarwal sold 10,216 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Korro Bio

Large investors have recently added to or reduced their stakes in the business. Atlas Venture Life Science Advisors LLC raised its holdings 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 worth $38,515,000 after purchasing an additional 17,857 shares during the period. NEA Management Company LLC raised its holdings in shares of Korro Bio by 1.7% in the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock worth $36,945,000 after purchasing an additional 17,857 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Korro Bio by 71.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock worth $15,448,000 after purchasing an additional 190,259 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Korro Bio in the 2nd quarter worth about $3,958,000. Finally, Millennium Management LLC raised its holdings in shares of Korro Bio by 38.3% in 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 during the period. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

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).