Oppenheimer Initiates Coverage on Korro Bio (NASDAQ:KRRO)

Research analysts at Oppenheimer initiated coverage on shares of Korro Bio (NASDAQ:KRRO) in a research note issued to investors on Friday, Marketbeat reports. The brokerage set an “outperform” rating and a $155.00 price target on the stock. Oppenheimer’s target price indicates a potential upside of 339.59% from the stock’s previous close.

KRRO has been the subject of a number of other research reports. William Blair reissued an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a research report on Friday, November 22nd. Royal Bank of Canada increased their price target on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Raymond James assumed coverage on Korro Bio in a research note on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective on the stock. Six research 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 company has an average rating of “Buy” and an average target price of $144.00.

Korro Bio Stock Down 6.3 %

Korro Bio stock opened at $35.26 on Friday. Korro Bio has a 12-month low of $30.00 and a 12-month high of $98.00. The firm’s fifty day moving average price is $48.34 and its 200 day moving average price is $46.01.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, topping the consensus estimate of ($2.55) by $0.29. Equities analysts anticipate that Korro Bio will post -9.7 EPS for the current year.

Insider Buying and Selling at Korro Bio

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

Institutional Investors Weigh In On Korro Bio

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its position in 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 last quarter. Driehaus Capital Management LLC bought a new stake in shares of Korro Bio during the second quarter valued at approximately $3,958,000. Tri Locum Partners LP acquired a new position in shares of Korro Bio during the second quarter worth approximately $2,419,000. Millennium Management LLC grew its holdings in Korro Bio by 38.3% in the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock worth $2,852,000 after buying an additional 23,307 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Korro Bio in the 2nd quarter valued at approximately $649,000. 13.18% of the stock is currently 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).