Korro Bio, Inc. (NASDAQ:KRRO) Receives $102.43 Consensus PT from Brokerages

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) has been given an average rating of "Buy" by the seven analysts that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $102.43.

KRRO has been the topic of several recent analyst reports. Oppenheimer cut their price target on 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 upgraded Korro Bio to a "strong-buy" rating in a research note on Tuesday, April 29th. Chardan Capital reiterated a "buy" rating and issued a $25.00 price target on shares of Korro Bio in a research note on Tuesday, May 13th. Finally, HC Wainwright restated a "buy" rating and set a $100.00 price objective on shares of Korro Bio in a research note on Thursday.

Institutional Trading of Korro Bio

Several hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in Korro Bio during the 1st quarter worth $35,000. KLP Kapitalforvaltning AS bought a new position in Korro Bio during the 4th quarter worth $53,000. Wells Fargo & Company MN grew its stake in Korro Bio by 32.4% during the 4th quarter. Wells Fargo & Company MN now owns 3,392 shares of the company's stock worth $129,000 after buying an additional 831 shares during the last quarter. Deutsche Bank AG grew its stake in Korro Bio by 29.4% during the 4th quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock worth $156,000 after buying an additional 935 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Korro Bio by 320.1% in the 1st quarter. AlphaQuest LLC now owns 9,196 shares of the company's stock worth $160,000 after buying an additional 7,007 shares in the last quarter. Institutional investors own 13.18% of the company's stock.

Korro Bio Trading Up 0.7%

Shares of KRRO traded up $0.11 during midday trading on Wednesday, reaching $16.01. 79,465 shares of the company were exchanged, compared to its average volume of 125,923. The stock has a 50-day moving average price of $13.40 and a 200-day moving average price of $20.16. The company has a market cap of $150.33 million, a price-to-earnings ratio of -1.70 and a beta of 2.43. 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 released its quarterly earnings results on Wednesday, May 7th. The company reported ($2.49) EPS for the quarter, topping 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. Equities research analysts anticipate that Korro Bio will post -9.52 earnings per share 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).