Korro Bio, Inc. (NASDAQ:KRRO) Receives $144.00 Consensus Target Price from Brokerages

Korro Bio, Inc. (NASDAQ:KRRO) has been given a consensus rating of “Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $144.00.

KRRO has been the topic of several recent research reports. William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a research note on Wednesday, November 13th. Oppenheimer initiated coverage on shares of Korro Bio in a research report on Friday, January 10th. They set an “outperform” rating and a $155.00 target price for the company. Royal Bank of Canada increased their target price on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Raymond James assumed coverage on Korro Bio in a research note on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and set a $115.00 price objective on shares of Korro Bio in a research note on Friday, November 22nd.

Insider Activity at Korro Bio

In related news, CFO Vineet Agarwal sold 800 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $70.00, for a total transaction of $56,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Korro Bio

A number of institutional investors have recently made changes to their positions in the stock. Quest Partners LLC lifted its stake in shares of Korro Bio by 172.1% in the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after acquiring an additional 1,124 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in Korro Bio by 251.0% in the third quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company’s stock valued at $95,000 after buying an additional 2,041 shares during the period. Vestcor Inc acquired a new position in shares of Korro Bio in the 3rd quarter valued at about $100,000. MetLife Investment Management LLC boosted its holdings in shares of Korro Bio by 129.0% during the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after buying an additional 2,050 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Korro Bio by 1,018.2% in the third quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock worth $164,000 after purchasing an additional 4,470 shares during the period. Institutional investors own 13.18% of the company’s stock.

Korro Bio Stock Performance

Shares of Korro Bio stock opened at $34.12 on Wednesday. Korro Bio has a 1 year low of $30.00 and a 1 year high of $98.00. The company’s fifty day simple moving average is $42.36 and its 200-day simple moving average is $45.80.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.55) by $0.29. Equities analysts forecast that Korro Bio will post -9.52 earnings per share for the current year.

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).