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

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $142.17.

A number of brokerages have issued reports on KRRO. William Blair began coverage on shares of Korro Bio in a report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price objective for the company. HC Wainwright boosted their price target on shares of Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Raymond James began coverage on Korro Bio in a report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st.

Korro Bio Trading Up 0.0 %

Shares of NASDAQ:KRRO opened at $68.15 on Monday. The stock has a 50 day moving average of $44.74 and a 200 day moving average of $47.67. Korro Bio has a 12-month low of $9.15 and a 12-month high of $98.00.

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

Insider Transactions at Korro Bio

In related news, CFO Vineet Agarwal sold 10,216 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $78.26, for a total value of $799,504.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Korro Bio

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. boosted its holdings in shares of Korro Bio by 71.6% in the second quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock valued at $15,448,000 after purchasing an additional 190,259 shares during the period. Driehaus Capital Management LLC bought a new stake in Korro Bio during the 2nd quarter valued at $3,958,000. Lynx1 Capital Management LP purchased a new stake in shares of Korro Bio in the 2nd quarter worth $129,000. Millennium Management LLC lifted 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 buying an additional 23,307 shares during the period. Finally, NEA Management Company LLC grew its position in shares of Korro Bio by 1.7% during the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock worth $36,945,000 after buying an additional 17,857 shares in the last quarter. 13.18% of the stock is 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).