Korro Bio, Inc. (NASDAQ:KRRO) Receives Consensus Rating of “Buy” from Brokerages

Korro Bio, Inc. (NASDAQ:KRRO) has been given an average recommendation of “Buy” by the six brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $142.17.

A number of research analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $115.00 price target on shares of Korro Bio in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of Korro Bio in a research report on Wednesday. Raymond James assumed coverage on Korro Bio in a report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective for the company. Finally, Royal Bank of Canada upped 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.

Korro Bio Trading Down 9.7 %

NASDAQ KRRO opened at $49.70 on Friday. The firm has a 50-day simple moving average of $49.77 and a 200 day simple moving average of $46.92. Korro Bio has a twelve month low of $30.00 and a twelve month high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. As a group, sell-side analysts expect that Korro Bio will post -10.02 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Vineet Agarwal sold 800 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $70.00, for a total value of $56,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Korro Bio

Institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC grew its holdings in Korro Bio by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after purchasing an additional 2,050 shares during the period. BNP Paribas Financial Markets lifted its holdings in Korro Bio by 1,018.2% during the third quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock worth $164,000 after acquiring an additional 4,470 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Korro Bio by 251.0% in the third quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company’s stock worth $95,000 after acquiring an additional 2,041 shares in the last quarter. Quest Partners LLC raised its position in shares of Korro Bio by 172.1% during the third 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. Finally, Point72 Asset Management L.P. grew its position in shares of Korro Bio by 71.6% in the 2nd 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. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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).