Korro Bio’s (KRRO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a research report sent to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $115.00 price target on the stock.

Several other equities analysts have also commented on KRRO. Royal Bank of Canada raised their target price on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Raymond James began coverage on shares of Korro Bio in a research note on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price objective on the stock. Finally, William Blair restated an “outperform” rating on shares of Korro Bio in a research note on Wednesday, November 13th. Five research 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.com, the stock has an average rating of “Buy” and a consensus price target of $142.17.

Korro Bio Price Performance

Shares of NASDAQ:KRRO opened at $52.00 on Friday. The business’s 50 day simple moving average is $51.12 and its 200 day simple moving average is $46.40. Korro Bio has a 1 year low of $30.00 and a 1 year high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its earnings results 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. On average, equities analysts predict that Korro Bio will post -9.63 EPS for the current year.

Insider Buying and Selling at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total value of $799,504.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

Several hedge funds have recently added to or reduced their stakes in the business. Vestcor Inc bought a new stake in shares of Korro Bio in the third quarter worth $100,000. Wellington Management Group LLP acquired a new stake in shares of Korro Bio in the third quarter valued at about $436,000. State Street Corp raised its position in shares of Korro Bio by 18.9% during the third quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after acquiring an additional 18,877 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Korro Bio by 129.0% in the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after acquiring an additional 2,050 shares during the period. Finally, BNP Paribas Financial Markets boosted 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 valued at $164,000 after acquiring an additional 4,470 shares during the last quarter. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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).