FY2029 EPS Estimates for Korro Bio Lifted 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) - Stock analysts at William Blair raised their FY2029 earnings per share (EPS) estimates for Korro Bio in a report issued on Tuesday, August 12th. William Blair analyst M. Minter now anticipates that the company will post earnings of $15.60 per share for the year, up from their prior forecast of $15.22. The consensus estimate for Korro Bio's current full-year earnings is ($9.52) per share.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald raised Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. HC Wainwright cut their price objective on Korro Bio from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday. Raymond James Financial cut their price objective on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating for the company in a research report on Wednesday. Chardan Capital reissued a "buy" rating and set a $25.00 price objective on shares of Korro Bio in a research report on Wednesday. Finally, Oppenheimer cut their price objective on Korro Bio from $155.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $100.14.

Korro Bio Stock Up 0.5%

Shares of NASDAQ:KRRO traded up $0.09 on Thursday, reaching $19.02. The company had a trading volume of 30,533 shares, compared to its average volume of 113,747. Korro Bio has a twelve month low of $10.29 and a twelve month high of $98.00. The stock has a 50-day moving average price of $14.05 and a 200 day moving average price of $18.35. The stock has a market capitalization of $178.59 million, a P/E ratio of -1.95 and a beta of 2.51.

Korro Bio (NASDAQ:KRRO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($2.74) earnings per share for the quarter, missing analysts' consensus estimates 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

Several large investors have recently added to or reduced their stakes in KRRO. Wells Fargo & Company MN raised its holdings in Korro Bio by 32.4% in the 4th quarter. Wells Fargo & Company MN now owns 3,392 shares of the company's stock valued at $129,000 after acquiring an additional 831 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Korro Bio in the 4th quarter valued at approximately $217,000. Legal & General Group Plc grew its stake 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 during the period. Raymond James Financial Inc. bought a new stake in shares of Korro Bio in the 4th quarter valued at approximately $394,000. Finally, Barclays PLC bought a new stake in shares of Korro Bio in the 4th quarter valued at approximately $395,000. 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).

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