FY2024 EPS Estimates for Korro Bio Boosted by William Blair

Korro Bio, Inc. (NASDAQ:KRRO) – William Blair lifted their FY2024 earnings per share estimates for shares of Korro Bio in a research report issued on Wednesday, November 13th. William Blair analyst M. Minter now forecasts that the company will earn ($9.80) per share for the year, up from their prior estimate of ($10.56). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Korro Bio’s current full-year earnings is ($9.63) per share. William Blair also issued estimates for Korro Bio’s Q4 2024 earnings at ($2.68) EPS, Q1 2025 earnings at ($2.79) EPS, Q2 2025 earnings at ($2.89) EPS, Q3 2025 earnings at ($2.93) EPS, Q4 2025 earnings at ($2.99) EPS, FY2025 earnings at ($11.60) EPS, FY2026 earnings at ($12.56) EPS, FY2027 earnings at ($13.59) EPS and FY2028 earnings at ($12.97) EPS.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada upped their price objective on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. HC Wainwright restated a “buy” rating and set a $115.00 price target on shares of Korro Bio in a research report on Wednesday, November 13th. Finally, Raymond James began coverage on Korro Bio in a research report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $142.17.

Korro Bio Stock Down 2.0 %

KRRO opened at $46.63 on Monday. The firm’s 50-day simple moving average is $50.21 and its 200-day simple moving average is $46.59. Korro Bio has a twelve month low of $30.00 and a twelve month high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data 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.

Institutional Trading of Korro Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRRO. Point72 Asset Management L.P. lifted its position in Korro Bio by 71.6% during 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. Driehaus Capital Management LLC bought a new stake in shares of Korro Bio during the second quarter worth approximately $3,958,000. Tri Locum Partners LP acquired a new position in Korro Bio in the second quarter valued at approximately $2,419,000. Millennium Management LLC boosted its stake in Korro Bio by 38.3% in the second quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock valued at $2,852,000 after acquiring an additional 23,307 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Korro Bio in the second quarter valued at approximately $649,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Vineet Agarwal sold 800 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.40% of the stock is owned by insiders.

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).