Korro Bio, Inc. (NASDAQ:KRRO) Stock Has Consensus Price Target of $16.50

Key Points

• Analyst sentiment is moderately bullish: Twelve analysts rate Korro Bio “Moderate Buy,” with six buys, three strong buys, two holds and one sell. The consensus 12-month price target is $16.50, versus a recent share price of $9.31.
• Korro Bio reported quarterly EPS of -$1.07, beating the consensus estimate of -$1.34, though analysts expect a full-year loss of approximately $4.95 per share.
• The stock remains highly volatile, trading between $5.20 and $55.89 over the past year, while institutional investors own 13.18% of shares. The company is developing RNA-editing medicines, including lead program KRRO-110 for alpha-1 antitrypsin deficiency.

Shares of Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twelve analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Korro Bio from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Jefferies Financial Group set a $15.00 price objective on shares of Korro Bio in a report on Tuesday, October 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Korro Bio in a research note on Friday, October 2nd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $15.00 price target on shares of Korro Bio in a research report on Tuesday, October 6th.

Korro Bio Price Performance

Korro Bio stock opened at $9.31 on Friday. Korro Bio has a 1-year low of $5.20 and a 1-year high of $55.89. The business has a fifty day moving average price of $11.75 and a 200-day moving average price of $12.15. The stock has a market capitalization of $137.14 million, a price-to-earnings ratio of -0.93 and a beta of 3.13.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.07) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.27. On average, equities research analysts anticipate that Korro Bio will post -4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Korro Bio news, Director Jean Formela sold 28,468 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $14.00, for a total transaction of $398,552.00. Following the completion of the transaction, the director directly owned 141,053 shares of the company's stock, valued at approximately $1,974,742. This trade represents a 16.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Lynx1 Capital Management Lp acquired 5,222 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $11.40 per share, with a total value of $59,530.80. Following the completion of the purchase, the insider owned 1,543,518 shares in the company, valued at approximately $17,596,105.20. This trade represents a 0.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have sold 38,269 shares of company stock worth $532,064. 4.80% 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. BlackRock Inc. acquired a new stake in Korro Bio during the 2nd quarter worth about $10,776,000. Affinity Asset Advisors LLC acquired a new position in Korro Bio in the first quarter valued at approximately $8,002,000. Nantahala Capital Management LLC purchased a new stake in Korro Bio in the 2nd quarter worth approximately $8,699,274. ADAR1 Capital Management LLC purchased a new stake in Korro Bio in the 2nd quarter worth approximately $7,118,000. Finally, Kalehua Capital Management LLC acquired a new stake in shares of Korro Bio during the 1st quarter worth approximately $1,238,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

Korro Bio Company Profile

Korro Bio, Inc is a biotechnology company developing RNA editing medicines for the treatment of genetic diseases. The company's approach is designed to make targeted changes to messenger RNA (mRNA), potentially correcting disease-causing mutations without permanently altering a patient's DNA.

Korro Bio's technology platform, known as Oligonucleotide Promoted Editing of RNA, or OPERA, uses engineered oligonucleotides to guide naturally occurring cellular RNA-editing processes. The platform is intended to support the development of medicines for diseases involving the liver and other tissues.

The company's lead clinical program, KRRO-110, is being developed for alpha-1 antitrypsin deficiency, an inherited disorder caused by mutations in the SERPINA1 gene.

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