Korro Bio, Inc. (NASDAQ:KRRO) Given Average Rating of "Buy" by Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) have been given an average rating of "Buy" by the eight research firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $112.75.

Several equities analysts have commented on the stock. Cantor Fitzgerald raised shares of Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. HC Wainwright reduced their price objective on Korro Bio from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday. Oppenheimer started coverage on Korro Bio in a research note on Friday, January 10th. They set an "outperform" rating and a $155.00 target price on the stock. Royal Bank of Canada reduced their price target on shares of Korro Bio from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday, March 19th. Finally, Chardan Capital started coverage on shares of Korro Bio in a research note on Wednesday, April 16th. They issued a "buy" rating and a $25.00 target price on the stock.

Institutional Trading of Korro Bio

Institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Korro Bio in the 4th quarter worth about $53,000. AlphaQuest LLC raised its stake in shares of Korro Bio by 23.2% in the fourth quarter. AlphaQuest LLC now owns 2,189 shares of the company's stock worth $83,000 after purchasing an additional 412 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Korro Bio by 32.4% during the fourth quarter. Wells Fargo & Company MN now owns 3,392 shares of the company's stock valued at $129,000 after purchasing an additional 831 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Korro Bio by 29.4% during the fourth quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock valued at $156,000 after buying an additional 935 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Korro Bio by 664.1% in the 4th quarter. Legal & General Group Plc now owns 4,325 shares of the company's stock worth $165,000 after buying an additional 3,759 shares in the last quarter. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Korro Bio Price Performance

Shares of Korro Bio stock opened at $15.23 on Friday. The business has a 50-day simple moving average of $17.91 and a 200 day simple moving average of $34.92. Korro Bio has a one year low of $11.13 and a one year high of $98.00. The firm has a market capitalization of $142.98 million, a price-to-earnings ratio of -1.61 and a beta of 2.66.

Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($2.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.60) by $0.11. The business had revenue of $2.55 million during the quarter, compared to analyst estimates of $0.13 million. On average, sell-side analysts expect that Korro Bio will post -9.52 EPS for the current year.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.