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

Shares of Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) have been assigned a consensus rating of "Buy" from the seven brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $102.43.

KRRO has been the subject of several research analyst reports. Cantor Fitzgerald raised Korro Bio to a "strong-buy" rating in a report on Tuesday, April 29th. Oppenheimer reduced their price target on shares of Korro Bio from $155.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. HC Wainwright lowered their price objective 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. Royal Bank of Canada dropped their price objective on shares of Korro Bio from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, March 19th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $25.00 target price on shares of Korro Bio in a report on Tuesday, May 13th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cormorant Asset Management LP bought a new stake in Korro Bio during the first quarter valued at about $6,621,000. ADAR1 Capital Management LLC grew its position in shares of Korro Bio by 18.5% during the first quarter. ADAR1 Capital Management LLC now owns 68,715 shares of the company's stock worth $1,196,000 after purchasing an additional 10,737 shares in the last quarter. Quarry LP bought a new stake in Korro Bio during the 1st quarter valued at approximately $35,000. DAFNA Capital Management LLC purchased a new position in Korro Bio in the 1st quarter worth approximately $820,000. Finally, Driehaus Capital Management LLC lifted its holdings in 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 purchasing an additional 87,544 shares in the last quarter. Hedge funds and other institutional investors own 13.18% of the company's stock.

Korro Bio Stock Down 0.4%

Shares of NASDAQ KRRO traded down $0.05 during trading on Tuesday, reaching $11.88. 172,529 shares of the company traded hands, compared to its average volume of 108,612. The firm has a 50 day simple moving average of $14.91 and a 200-day simple moving average of $28.57. Korro Bio has a 52-week low of $10.29 and a 52-week high of $98.00. The stock has a market capitalization of $111.57 million, a PE ratio of -1.26 and a beta of 2.66.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($2.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.60) by $0.11. The company had revenue of $2.55 million during the quarter, compared to analysts' expectations of $0.13 million. As a group, research analysts predict 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).