Korro Bio, Inc. (NASDAQ:KRRO) Receives $102.43 Consensus Target Price from Analysts

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) has received a consensus recommendation of "Buy" from the seven research firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $102.43.

Several equities analysts have commented on KRRO shares. Oppenheimer dropped their price target on shares of Korro Bio from $155.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Cantor Fitzgerald raised shares of Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. HC Wainwright cut their price target on shares of Korro Bio from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Chardan Capital reissued a "buy" rating and issued a $25.00 price target on shares of Korro Bio in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada decreased their price objective 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cormorant Asset Management LP purchased a new stake in shares of Korro Bio during the first quarter worth approximately $6,621,000. ADAR1 Capital Management LLC increased its stake in Korro Bio by 18.5% in the 1st quarter. ADAR1 Capital Management LLC now owns 68,715 shares of the company's stock valued at $1,196,000 after buying an additional 10,737 shares during the period. Quarry LP acquired a new position in Korro Bio in the 1st quarter valued at $35,000. DAFNA Capital Management LLC purchased a new position in Korro Bio during the 1st quarter worth $820,000. Finally, Driehaus Capital Management LLC lifted its stake in shares of Korro Bio by 17.7% in the 1st quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company's stock worth $10,140,000 after acquiring an additional 87,544 shares during the period. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Korro Bio Stock Performance

Shares of NASDAQ:KRRO traded up $0.28 during trading hours on Friday, reaching $12.77. The stock had a trading volume of 131,620 shares, compared to its average volume of 106,654. Korro Bio has a 1 year low of $10.29 and a 1 year high of $98.00. The stock has a market capitalization of $119.91 million, a price-to-earnings ratio of -1.35 and a beta of 2.43. The firm's 50 day moving average is $14.37 and its 200-day moving average is $23.68.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($2.49) EPS for the quarter, beating analysts' consensus estimates of ($2.60) by $0.11. The business had revenue of $2.55 million during the quarter, compared to analysts' expectations of $0.13 million. Analysts forecast that Korro Bio will post -9.52 EPS for the current year.

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).