HC Wainwright Increases Earnings Estimates for Korro Bio

Korro Bio, Inc. (NASDAQ:KRRO) – HC Wainwright boosted their FY2024 earnings estimates for shares of Korro Bio in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings per share of ($9.49) for the year, up from their previous forecast of ($9.72). HC Wainwright currently has a “Buy” rating and a $115.00 target price on the stock. The consensus estimate for Korro Bio’s current full-year earnings is ($9.63) per share. HC Wainwright also issued estimates for Korro Bio’s Q4 2024 earnings at ($2.38) EPS, Q1 2025 earnings at ($2.45) EPS, Q3 2025 earnings at ($2.58) EPS, Q4 2025 earnings at ($2.64) EPS and FY2025 earnings at ($10.19) EPS.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, beating the consensus estimate of ($2.55) by $0.29.

A number of other brokerages also recently issued reports on KRRO. William Blair reiterated an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Royal Bank of Canada boosted their target price on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, Raymond James began coverage on shares of Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Korro Bio has an average rating of “Buy” and an average target price of $142.17.

Korro Bio Stock Performance

Shares of KRRO stock opened at $46.63 on Monday. The company’s fifty day moving average price is $50.36 and its 200-day moving average price is $46.51. Korro Bio has a one year low of $30.00 and a one year high of $98.00.

Insider Buying and Selling

In related news, CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Korro Bio

Large investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. purchased a new stake in Korro Bio in the 2nd quarter valued at about $28,000. Quest Partners LLC boosted its position in Korro Bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after buying an additional 1,124 shares during the period. Vestcor Inc purchased a new stake in Korro Bio in the 3rd quarter valued at about $100,000. MetLife Investment Management LLC boosted its position in Korro Bio by 129.0% in the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after buying an additional 2,050 shares during the period. Finally, Lynx1 Capital Management LP purchased a new stake in Korro Bio in the 2nd quarter valued at about $129,000. 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).