Korro Bio’s (KRRO) Buy Rating Reaffirmed at HC Wainwright

Korro Bio (NASDAQ:KRRO)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $115.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 384.01% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of 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 shares of Korro Bio in a report on Friday, January 10th. They issued an “outperform” rating and a $155.00 price target on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $142.57.

Korro Bio Stock Up 8.5 %

Shares of NASDAQ KRRO opened at $23.76 on Thursday. Korro Bio has a 52 week low of $18.50 and a 52 week high of $98.00. The firm’s fifty day moving average is $29.88 and its 200 day moving average is $41.39.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Tuesday, March 18th. The company reported ($2.26) EPS for the quarter, topping the consensus estimate of ($2.33) by $0.07. The firm had revenue of $2.27 million during the quarter. Equities research analysts expect that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Trading of Korro Bio

Hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. bought a new position in Korro Bio in the 4th quarter worth about $26,870,000. Driehaus Capital Management LLC boosted its stake in Korro Bio by 220.3% in the 4th quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company’s stock worth $18,841,000 after purchasing an additional 340,410 shares in the last quarter. Woodline Partners LP bought a new position in Korro Bio in the 4th quarter worth about $3,887,000. Franklin Resources Inc. bought a new position in Korro Bio in the 4th quarter worth about $3,493,000. Finally, Tri Locum Partners LP boosted its stake in Korro Bio by 125.3% in the 4th quarter. Tri Locum Partners LP now owns 144,216 shares of the company’s stock worth $5,490,000 after purchasing an additional 80,202 shares in the last quarter. Institutional investors own 13.18% of the company’s stock.

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).