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

Key Points

• Korro Bio, Inc. has received a consensus rating of "Buy" from seven analysts, with an average price target of $86.83 over the next twelve months.
• Recent earnings results showed a loss of ($2.74) per share, which was below analysts' expectations, while the company reported $1.46 million in revenue for the quarter.
• Institutional investors are actively buying Korro Bio shares, with significant increases in ownership by firms such as Driehaus Capital Management and Point72 Asset Management.

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) has been assigned an average recommendation of "Buy" from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $86.8333.

Several equities analysts recently commented on the company. Chardan Capital reiterated a "buy" rating and issued a $25.00 target price on shares of Korro Bio in a research note on Wednesday, August 13th. Raymond James Financial dropped their price objective on shares of Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating for the company in a research note on Wednesday, August 13th. Finally, HC Wainwright decreased their target price on shares of Korro Bio from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th.

Institutional Trading of Korro Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Driehaus Capital Management LLC raised its position 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 buying an additional 87,544 shares during the period. Point72 Asset Management L.P. increased its stake in Korro Bio by 11.0% during the fourth 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 purchased a new position in shares of Korro Bio in the 1st quarter worth about $6,621,000. Geode Capital Management LLC lifted its stake in shares of Korro Bio by 10.8% in the 2nd 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 in the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Korro Bio in the 4th quarter valued at about $3,887,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Korro Bio Price Performance

Korro Bio stock opened at $35.51 on Thursday. The stock has a market capitalization of $333.44 million, a P/E ratio of -3.64 and a beta of 2.66. Korro Bio has a 12-month low of $10.29 and a 12-month high of $98.00. The firm's 50-day moving average is $18.50 and its two-hundred day moving average is $17.21.

Korro Bio (NASDAQ:KRRO - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($2.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.54) by ($0.20). The company had revenue of $1.46 million for the quarter, compared to analysts' expectations of $0.41 million. As a group, analysts forecast 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).

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