FY2029 EPS Estimates for Korro Bio Raised by William Blair

Key Points

• William Blair has raised its FY2029 earnings per share (EPS) estimate for Korro Bio from $15.22 to $15.60, reflecting positive growth expectations despite the current consensus estimate of a loss of ($9.52) per share.
• Korro Bio's stock is currently rated as "Buy" by several analysts, with a consensus target price of $100.14, following various ratings adjustments by firms such as Cantor Fitzgerald and HC Wainwright.
• The company recently reported quarterly earnings of ($2.74) per share, which missed analyst expectations, but revenue was significantly higher at $1.46 million compared to estimates of $0.41 million.

Korro Bio, Inc. (NASDAQ:KRRO - Free Report) - Equities research analysts at William Blair increased their FY2029 EPS estimates for shares of Korro Bio in a research report issued to clients and investors on Tuesday, August 12th. William Blair analyst M. Minter now expects that the company will post earnings of $15.60 per share for the year, up from their previous estimate of $15.22. The consensus estimate for Korro Bio's current full-year earnings is ($9.52) per share.

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

Several other analysts have also recently commented on the company. Oppenheimer lowered their price target on Korro Bio from $155.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. HC Wainwright lowered their price target on Korro Bio from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Raymond James Financial decreased their target price on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating for the company in a report on Wednesday, August 13th. Chardan Capital reiterated a "buy" rating and set a $25.00 target price on shares of Korro Bio in a report on Wednesday, August 13th. Finally, Cantor Fitzgerald upgraded Korro Bio to a "strong-buy" rating in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $86.83.

Korro Bio Stock Performance

KRRO stock traded down $0.7250 during trading on Thursday, hitting $18.9950. The stock had a trading volume of 52,876 shares, compared to its average volume of 114,626. The stock has a market cap of $178.38 million, a price-to-earnings ratio of -1.95 and a beta of 2.51. The company's 50 day moving average price is $14.41 and its two-hundred day moving average price is $17.80. Korro Bio has a 1-year low of $10.29 and a 1-year high of $98.00.

Hedge Funds Weigh In On Korro Bio

Institutional investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. acquired a new position in shares of Korro Bio in the 4th quarter valued at approximately $220,000. Legal & General Group Plc raised its position in shares of Korro Bio by 664.1% in the 4th quarter. Legal & General Group Plc now owns 4,325 shares of the company's stock valued at $165,000 after purchasing an additional 3,759 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Korro Bio by 128,950.0% in the 1st quarter. GAMMA Investing LLC now owns 10,324 shares of the company's stock valued at $180,000 after purchasing an additional 10,316 shares in the last quarter. Deutsche Bank AG raised its position in shares of Korro Bio by 29.4% in the 4th quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock valued at $156,000 after purchasing an additional 935 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Korro Bio by 9.0% in the 1st quarter. Bank of New York Mellon Corp now owns 16,113 shares of the company's stock valued at $281,000 after purchasing an additional 1,325 shares in the last quarter. 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).