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

Key Points

• Korro Bio, Inc. has received a consensus rating of "Buy" from eight brokerages, with one sell rating, five buy ratings, and two strong buy ratings issued.
• The average 12-month price target for Korro Bio stock among analysts is $86.83, despite the stock currently trading at $46.22.
• Korro Bio reported a net loss of ($2.74) per share for the last quarter, missing analyst estimates, but exceeded revenue expectations with $1.46 million in revenue.

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) has earned a consensus rating of "Buy" from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $86.8333.

A number of brokerages recently weighed in on KRRO. Weiss Ratings restated a "sell (e+)" rating on shares of Korro Bio in a report on Saturday, September 27th. Raymond James Financial decreased their price target on shares of Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating for the company in a research report on Wednesday, August 13th. HC Wainwright cut their price objective on Korro Bio from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Finally, Chardan Capital reiterated a "buy" rating and issued a $25.00 price objective on shares of Korro Bio in a research note on Wednesday, August 13th.

Korro Bio Trading Up 1.1%

KRRO opened at $46.22 on Monday. The stock's 50-day moving average price is $26.60 and its 200 day moving average price is $18.81. Korro Bio has a 12-month low of $10.29 and a 12-month high of $98.00. The firm has a market cap of $434.01 million, a price-to-earnings ratio of -4.74 and a beta of 2.89.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released 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 business had revenue of $1.46 million during the quarter, compared to the consensus estimate of $0.41 million. On average, research analysts forecast that Korro Bio will post -9.52 earnings per share for the current year.

Hedge Funds Weigh In On Korro Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Korro Bio by 128,950.0% in the first quarter. GAMMA Investing LLC now owns 10,324 shares of the company's stock valued at $180,000 after acquiring an additional 10,316 shares in the last quarter. Bank of New York Mellon Corp increased 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 during the last quarter. California State Teachers Retirement System raised its holdings in shares of Korro Bio by 997.3% in the 4th quarter. California State Teachers Retirement System now owns 4,850 shares of the company's stock valued at $185,000 after purchasing an additional 4,408 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Korro Bio by 11.5% during the 4th quarter. Wellington Management Group LLP now owns 14,553 shares of the company's stock worth $554,000 after purchasing an additional 1,501 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Korro Bio by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company's stock worth $318,000 after purchasing an additional 790 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).

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