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

Key Points

• Korro Bio, Inc. has received an average rating of "Buy" from analysts, with five firms issuing buy ratings and two assigning a strong buy rating.
• The average 12-month price target among analysts covering Korro Bio is approximately $86.83, despite recent adjustments that see some analysts lowering their targets.
• Korro Bio's stock opened at $20.26 and has a 52-week range between $10.29 and $98.00, with a reported earnings per share of ($2.74) for the last quarter.

Shares of Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) have received an average recommendation of "Buy" from the seven analysts that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $86.8333.

A number of equities research analysts recently issued reports on the company. Raymond James Financial lowered their price objective on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, August 13th. HC Wainwright lowered 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. Chardan Capital reiterated a "buy" rating and issued a $25.00 price objective on shares of Korro Bio in a research report on Wednesday, August 13th. Cantor Fitzgerald upgraded Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, Oppenheimer lowered their price objective on Korro Bio from $155.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th.

Korro Bio Price Performance

Shares of Korro Bio stock traded up $1.28 during trading hours on Friday, reaching $20.55. The company had a trading volume of 82,087 shares, compared to its average volume of 131,984. Korro Bio has a one year low of $10.29 and a one year high of $98.00. The business has a fifty day simple moving average of $14.70 and a 200 day simple moving average of $17.73. The firm has a market cap of $192.96 million, a PE ratio of -2.11 and a beta of 2.51.

Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($2.74) EPS for the quarter, missing analysts' consensus estimates of ($2.54) by ($0.20). The firm had revenue of $1.46 million during the quarter, compared to analysts' expectations of $0.41 million. On average, research analysts forecast that Korro Bio will post -9.52 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

A number of large investors have recently modified their holdings of KRRO. Quarry LP purchased a new position in shares of Korro Bio during the 1st quarter valued at about $35,000. Wells Fargo & Company MN increased its holdings in Korro Bio by 32.4% during the 4th quarter. Wells Fargo & Company MN now owns 3,392 shares of the company's stock valued at $129,000 after purchasing an additional 831 shares during the period. Deutsche Bank AG increased its holdings in Korro Bio by 29.4% during the 4th quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock valued at $156,000 after purchasing an additional 935 shares during the period. AlphaQuest LLC boosted its position in Korro Bio by 320.1% during the 1st quarter. AlphaQuest LLC now owns 9,196 shares of the company's stock valued at $160,000 after acquiring an additional 7,007 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Korro Bio by 664.1% during the 4th quarter. Legal & General Group Plc now owns 4,325 shares of the company's stock valued at $165,000 after acquiring an additional 3,759 shares in the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.

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).