HC Wainwright Reaffirms Buy Rating for Korro Bio (NASDAQ:KRRO)

HC Wainwright reiterated their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a report released on Thursday,Benzinga reports. The brokerage currently has a $115.00 price objective on the stock.

Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada lowered their price target on Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday. Oppenheimer began coverage on Korro Bio in a report on Friday, January 10th. They set an “outperform” rating and a $155.00 price target on the stock. Six 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, the stock presently has a consensus rating of “Buy” and an average target price of $142.57.

Korro Bio Stock Up 8.5 %

KRRO stock opened at $23.76 on Thursday. Korro Bio has a 12-month low of $18.50 and a 12-month high of $98.00. The stock’s 50 day simple moving average is $29.88 and its 200 day simple moving average is $41.37.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, beating the consensus estimate of ($2.33) by $0.07. The firm had revenue of $2.27 million for the quarter. As a group, equities research analysts anticipate that Korro Bio will post -9.52 earnings per share for the current year.

Hedge Funds Weigh In On Korro Bio

Institutional investors have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS bought a new position in Korro Bio in the 4th quarter worth $53,000. Quest Partners LLC raised its holdings in Korro Bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after purchasing an additional 1,124 shares during the period. AlphaQuest LLC raised its holdings in Korro Bio by 23.2% in the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock worth $83,000 after purchasing an additional 412 shares during the period. Brown Brothers Harriman & Co. raised its holdings in Korro Bio by 251.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company’s stock worth $95,000 after purchasing an additional 2,041 shares during the period. Finally, Vestcor Inc bought a new position in Korro Bio in the 3rd quarter worth $100,000. 13.18% of the stock is owned by institutional investors.

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).