Royal Bank of Canada Cuts Korro Bio (NASDAQ:KRRO) Price Target to $95.00

Korro Bio (NASDAQ:KRRO) had its price objective cut by analysts at Royal Bank of Canada from $105.00 to $95.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 333.79% from the stock’s previous close.

Several other research analysts also recently commented on KRRO. Oppenheimer initiated coverage on Korro Bio in a report on Friday, January 10th. They set an “outperform” rating and a $155.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Korro Bio in a report on Friday, November 22nd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Korro Bio presently has an average rating of “Buy” and an average price target of $142.57.

Korro Bio Stock Performance

Shares of KRRO stock opened at $21.90 on Wednesday. Korro Bio has a twelve month low of $18.50 and a twelve month high of $98.00. The stock’s fifty day simple moving average is $30.11 and its 200 day simple moving average is $41.56.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.33) by $0.07. The firm had revenue of $2.27 million for the quarter. On average, equities analysts anticipate that Korro Bio will post -9.52 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new position in shares of Korro Bio in the 4th quarter valued at about $53,000. Quest Partners LLC lifted its stake in shares of Korro Bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after purchasing an additional 1,124 shares during the period. AlphaQuest LLC lifted its stake in shares of Korro Bio by 23.2% in the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock valued at $83,000 after purchasing an additional 412 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Korro Bio by 251.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company’s stock valued at $95,000 after purchasing an additional 2,041 shares during the period. Finally, Vestcor Inc acquired a new position in shares of Korro Bio in the 3rd quarter valued at about $100,000. 13.18% of the stock is owned by institutional investors and hedge funds.

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).