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

Shares of Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven analysts that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $102.43.

KRRO has been the subject of a number of analyst reports. Oppenheimer lowered their target price on shares of Korro Bio from $155.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Chardan Capital reissued a "buy" rating and set a $25.00 target price on shares of Korro Bio in a research note on Tuesday, May 13th. Cantor Fitzgerald raised shares of Korro Bio to a "strong-buy" rating in a research note on Tuesday, April 29th. HC Wainwright lowered their target price on shares of Korro Bio from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada lowered their target price on shares of Korro Bio from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, March 19th.

Korro Bio Price Performance

Shares of NASDAQ:KRRO opened at $12.03 on Friday. The company's 50 day simple moving average is $14.46 and its 200 day simple moving average is $24.31. The stock has a market capitalization of $112.96 million, a price-to-earnings ratio of -1.27 and a beta of 2.45. Korro Bio has a 1 year low of $10.29 and a 1 year high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($2.49) earnings per share for the quarter, beating analysts' consensus estimates of ($2.60) by $0.11. The company had revenue of $2.55 million during the quarter, compared to analyst estimates of $0.13 million. As a group, analysts anticipate that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Korro Bio

A number of institutional investors have recently made changes to their positions in KRRO. Rhumbline Advisers boosted its stake in shares of Korro Bio by 7.8% in the 4th quarter. Rhumbline Advisers now owns 9,602 shares of the company's stock valued at $366,000 after purchasing an additional 691 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Korro Bio by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company's stock valued at $563,000 after purchasing an additional 435 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Korro Bio in the 4th quarter valued at $394,000. AlphaQuest LLC boosted its stake in shares of Korro Bio by 23.2% in the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company's stock valued at $83,000 after purchasing an additional 412 shares in the last quarter. Finally, Swiss National Bank purchased a new stake in Korro Bio during the 4th quarter valued at $381,000. Hedge funds and other institutional investors 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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