Royal Bank of Canada Issues Pessimistic Forecast for Korro Bio (NASDAQ:KRRO) Stock Price

Korro Bio (NASDAQ:KRRO) had its target price cut by Royal Bank of Canada from $105.00 to $95.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also weighed in on the stock. Oppenheimer started coverage on shares of Korro Bio in a research note on Friday, January 10th. They issued an “outperform” rating and a $155.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $115.00 price target on shares of Korro Bio in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Korro Bio has an average rating of “Buy” and a consensus target price of $142.57.

Korro Bio Trading Up 8.5 %

KRRO stock opened at $23.76 on Wednesday. Korro Bio has a fifty-two week low of $18.50 and a fifty-two week high of $98.00. The stock has a fifty day moving average of $29.88 and a 200-day moving average of $41.39.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.33) by $0.07. The business had revenue of $2.27 million for the quarter. Analysts anticipate that Korro Bio will post -9.52 earnings per share for the current fiscal year.

Institutional Trading of Korro Bio

Institutional investors and hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. purchased a new position in shares of Korro Bio during the 4th quarter valued at $26,870,000. Driehaus Capital Management LLC boosted its stake in Korro Bio by 220.3% during the fourth quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company’s stock valued at $18,841,000 after buying an additional 340,410 shares during the period. Woodline Partners LP purchased a new position in Korro Bio during the fourth quarter worth about $3,887,000. Franklin Resources Inc. bought a new position in Korro Bio in the 4th quarter worth about $3,493,000. Finally, Tri Locum Partners LP raised its holdings in shares of Korro Bio by 125.3% in the 4th quarter. Tri Locum Partners LP now owns 144,216 shares of the company’s stock valued at $5,490,000 after acquiring an additional 80,202 shares in the last quarter. 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).