Korro Bio, Inc. (NASDAQ:KRRO) Receives Average Rating of "Buy" from 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.

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) has been assigned an average rating of "Buy" from the seven brokerages that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $86.8333.

A number of research analysts have commented on the stock. HC Wainwright cut their price target on shares of Korro Bio from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday. Cantor Fitzgerald raised Korro Bio to a "strong-buy" rating in a research note on Tuesday, April 29th. Chardan Capital reaffirmed a "buy" rating and issued a $25.00 price target on shares of Korro Bio in a research note on Wednesday. Raymond James Financial decreased their price target on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating on the stock in a research note on Wednesday. Finally, Oppenheimer decreased 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.

Korro Bio Stock Performance

Shares of KRRO opened at $20.26 on Friday. The company has a 50-day simple moving average of $14.32 and a 200-day simple moving average of $18.02. The firm has a market capitalization of $190.24 million, a P/E ratio of -2.08 and a beta of 2.51. Korro Bio has a 52 week low of $10.29 and a 52 week high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($2.74) earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts forecast that Korro Bio will post -9.52 earnings per share for the current year.

Institutional Trading of Korro Bio

Hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. acquired a new stake in shares of Korro Bio during the fourth quarter worth approximately $220,000. Legal & General Group Plc increased its holdings in shares of Korro Bio by 664.1% in the fourth quarter. Legal & General Group Plc now owns 4,325 shares of the company's stock valued at $165,000 after purchasing an additional 3,759 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Korro Bio by 128,950.0% in the first quarter. GAMMA Investing LLC now owns 10,324 shares of the company's stock valued at $180,000 after purchasing an additional 10,316 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Korro Bio by 29.4% in the fourth quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock valued at $156,000 after purchasing an additional 935 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Korro Bio by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 16,113 shares of the company's stock valued at $281,000 after purchasing an additional 1,325 shares in the last quarter. Institutional investors and hedge funds own 13.18% of the company's stock.

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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