Cantor Fitzgerald Lowers Earnings Estimates for Korro Bio

Key Points

• Cantor Fitzgerald has revised its FY2025 EPS estimate for Korro Bio from ($8.76) to ($10.49), while maintaining a "Strong-Buy" rating on the stock.
• Several analysts have lowered their price targets for Korro Bio, with HC Wainwright setting a new target of $90.00 and Oppenheimer adjusting it down to $90.00 as well.
• Korro Bio's shares have experienced a recent decline, trading down 1.9% to $19.50, amidst a market cap of approximately $183.11 million.

Korro Bio, Inc. (NASDAQ:KRRO - Free Report) - Research analysts at Cantor Fitzgerald decreased their FY2025 earnings per share (EPS) estimates for shares of Korro Bio in a note issued to investors on Wednesday, August 13th. Cantor Fitzgerald analyst S. Seedhouse now anticipates that the company will earn ($10.49) per share for the year, down from their previous forecast of ($8.76). Cantor Fitzgerald has a "Strong-Buy" rating on the stock. The consensus estimate for Korro Bio's current full-year earnings is ($9.52) per share. Cantor Fitzgerald also issued estimates for Korro Bio's FY2026 earnings at ($8.88) EPS.

KRRO has been the topic of several other research reports. HC Wainwright decreased their price target on Korro Bio from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Oppenheimer decreased their price target on Korro Bio from $155.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Raymond James Financial decreased their price target on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, August 13th. Finally, Chardan Capital reissued a "buy" rating and set a $25.00 target price on shares of Korro Bio in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $86.83.

Korro Bio Stock Performance

Shares of Korro Bio stock traded up $0.13 during trading hours on Friday, hitting $19.27. The company's stock had a trading volume of 64,659 shares, compared to its average volume of 114,700. Korro Bio has a twelve month low of $10.29 and a twelve month high of $98.00. The firm has a fifty day moving average of $14.48 and a 200-day moving average of $17.81. The stock has a market cap of $180.95 million, a price-to-earnings ratio of -1.98 and a beta of 2.51.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($2.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.54) by ($0.20). The business had revenue of $1.46 million during the quarter, compared to the consensus estimate of $0.41 million.

Hedge Funds Weigh In On Korro Bio

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position in Korro Bio by 520.0% in the 2nd quarter. Bank of America Corp DE now owns 28,156 shares of the company's stock valued at $352,000 after purchasing an additional 23,615 shares in the last quarter. Raymond James Financial Inc. raised its position in Korro Bio by 357.6% in the 2nd quarter. Raymond James Financial Inc. now owns 83,392 shares of the company's stock valued at $1,042,000 after purchasing an additional 65,170 shares in the last quarter. Geode Capital Management LLC raised its position in Korro Bio by 10.8% in the 2nd quarter. Geode Capital Management LLC now owns 155,387 shares of the company's stock valued at $1,941,000 after purchasing an additional 15,166 shares in the last quarter. AlphaQuest LLC raised its position in Korro Bio by 195.9% in the 2nd quarter. AlphaQuest LLC now owns 27,211 shares of the company's stock valued at $340,000 after purchasing an additional 18,015 shares in the last quarter. Finally, Cormorant Asset Management LP acquired a new stake in Korro Bio in the 1st quarter valued at about $6,621,000. Institutional investors and hedge funds 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).