HC Wainwright Cuts Korro Bio (NASDAQ:KRRO) Price Target to $90.00

Key Points

• HC Wainwright has reduced the price target for Korro Bio (NASDAQ:KRRO) from $100.00 to $90.00, while maintaining a "buy" rating, indicating a potential upside of 462.85% from the current price.
• Other firms like Chardan Capital and Cantor Fitzgerald have given the stock "buy" and "strong-buy" ratings, respectively, with a consensus rating of "Buy" and an average price target of $101.00.
• Korro Bio recently reported an EPS of ($2.74), missing estimates, but exceeded revenue expectations with $1.46 million for the quarter.

Korro Bio (NASDAQ:KRRO - Get Free Report) had its price target decreased by equities researchers at HC Wainwright from $100.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 462.85% from the stock's current price.

A number of other research firms have also weighed in on KRRO. Chardan Capital reiterated a "buy" rating and issued a $25.00 price target on shares of Korro Bio in a research report on Tuesday, May 13th. Cantor Fitzgerald raised shares of Korro Bio to a "strong-buy" rating in a research note on Tuesday, April 29th. Finally, Oppenheimer dropped their target price on shares of Korro Bio from $155.00 to $90.00 and set an "outperform" rating on the stock 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $101.00.

Korro Bio Price Performance

Korro Bio stock opened at $15.99 on Wednesday. Korro Bio has a 12-month low of $10.29 and a 12-month high of $98.00. The stock has a market capitalization of $150.16 million, a PE ratio of -1.69 and a beta of 2.51. The firm has a 50 day simple moving average of $13.91 and a 200-day simple moving average of $18.34.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($2.74) EPS 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 analyst estimates of $0.41 million. On average, analysts forecast that Korro Bio will post -9.52 earnings per share for the current fiscal year.

Institutional Trading of Korro Bio

A number of hedge funds have recently bought and sold shares of KRRO. Deep Track Capital LP raised its stake in Korro Bio by 2.9% during the fourth quarter. Deep Track Capital LP now owns 874,614 shares of the company's stock worth $33,297,000 after acquiring an additional 24,614 shares in the last quarter. Driehaus Capital Management LLC grew its stake in Korro Bio by 17.7% during the first quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company's stock worth $10,140,000 after buying an additional 87,544 shares during the last quarter. Point72 Asset Management L.P. grew its position in Korro Bio by 11.0% during the 4th quarter. Point72 Asset Management L.P. now owns 493,997 shares of the company's stock worth $18,806,000 after acquiring an additional 49,147 shares during the last quarter. Cormorant Asset Management LP acquired a new stake in Korro Bio during the 1st quarter valued at $6,621,000. Finally, Geode Capital Management LLC increased its holdings in Korro Bio by 10.8% in the second 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 during the last quarter. 13.18% of the stock is owned by institutional investors.

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).

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