Korro Bio (NASDAQ:KRRO) Receives Buy Rating from HC Wainwright

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

Other analysts also recently issued research reports about the company. Raymond James initiated coverage on Korro Bio in a research note on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price target on the stock. William Blair reissued an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada upped their price target on Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Five 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.com, the company currently has an average rating of “Buy” and a consensus target price of $142.17.

Korro Bio Stock Down 0.6 %

Shares of NASDAQ KRRO opened at $52.00 on Friday. The firm’s 50-day moving average is $51.12 and its 200-day 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 quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, beating the consensus estimate of ($2.55) by $0.29. As a group, analysts predict that Korro Bio will post -9.63 earnings per share for the current fiscal year.

Insider Transactions at Korro Bio

In other news, CFO Vineet Agarwal sold 800 shares of Korro Bio 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Korro Bio

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in shares of 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 purchasing an additional 23,307 shares during the period. Tri Locum Partners LP acquired a new stake in Korro Bio during the second quarter worth approximately $2,419,000. NEA Management Company LLC lifted its position in Korro Bio by 1.7% during the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock worth $36,945,000 after acquiring an additional 17,857 shares during the last quarter. Atlas Venture Life Science Advisors LLC boosted its holdings in shares of Korro Bio by 1.6% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock worth $38,515,000 after acquiring an additional 17,857 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of Korro Bio by 71.6% in the second 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. Institutional investors and hedge funds own 13.18% of the company’s stock.

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).