Brokerages Set Korro Bio, Inc. (NASDAQ:KRRO) Target Price at $102.43

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

A number of brokerages recently commented on KRRO. HC Wainwright decreased their price target 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. 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. Cantor Fitzgerald raised Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. Oppenheimer decreased their target price 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. Finally, Royal Bank of Canada decreased their target price on Korro Bio from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 19th.

Korro Bio Stock Up 18.1%

Shares of KRRO stock traded up $2.24 during trading on Tuesday, reaching $14.59. 280,781 shares of the company's stock were exchanged, compared to its average volume of 109,649. The stock has a market capitalization of $137.01 million, a PE ratio of -1.55 and a beta of 2.66. Korro Bio has a twelve month low of $10.29 and a twelve month high of $98.00. The firm's fifty day moving average price is $14.70 and its 200-day moving average price is $28.22.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($2.49) EPS for the quarter, beating the consensus estimate of ($2.60) by $0.11. The company had revenue of $2.55 million during the quarter, compared to analyst estimates of $0.13 million. As a group, analysts anticipate that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KRRO. Alliancebernstein L.P. acquired a new position in shares of Korro Bio during the 4th quarter worth approximately $26,870,000. Cormorant Asset Management LP acquired a new stake in Korro Bio during the first quarter worth approximately $6,621,000. Driehaus Capital Management LLC grew its position in Korro Bio by 220.3% during the fourth quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company's stock worth $18,841,000 after buying an additional 340,410 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Korro Bio during the 4th quarter worth $3,887,000. Finally, Franklin Resources Inc. acquired a new stake in shares of Korro Bio during the 4th quarter worth $3,493,000. 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).