Chardan Capital Begins Coverage on Korro Bio (NASDAQ:KRRO)

Chardan Capital assumed coverage on shares of Korro Bio (NASDAQ:KRRO - Free Report) in a report issued on Wednesday, Marketbeat reports. The firm issued a buy rating and a $25.00 price target on the stock.

A number of other research firms have also issued reports on KRRO. HC Wainwright reaffirmed a "buy" rating and set a $115.00 target price on shares of Korro Bio in a report on Thursday, March 20th. Royal Bank of Canada cut their target price on shares of Korro Bio from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, March 19th. Finally, Oppenheimer began coverage on Korro Bio in a report on Friday, January 10th. They issued an "outperform" rating and a $155.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $120.43.

Korro Bio Trading Down 1.1 %

KRRO stock traded down $0.15 during trading on Wednesday, hitting $13.75. The company had a trading volume of 26,044 shares, compared to its average volume of 93,097. The business has a 50 day moving average of $20.84 and a 200 day moving average of $38.01. The firm has a market capitalization of $129.10 million, a price-to-earnings ratio of -1.46 and a beta of 2.31. Korro Bio has a fifty-two week low of $11.13 and a fifty-two week high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, topping analysts' consensus estimates of ($2.33) by $0.07. The company had revenue of $2.27 million during the quarter. As a group, equities analysts predict that Korro Bio will post -9.52 EPS for the current year.

Institutional Trading of Korro Bio

Several institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. acquired a new position in Korro Bio in the 4th quarter worth about $26,870,000. Driehaus Capital Management LLC boosted its holdings in Korro Bio by 220.3% in the fourth quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company's stock worth $18,841,000 after purchasing an additional 340,410 shares in the last quarter. Woodline Partners LP bought a new position in Korro Bio during the fourth quarter valued at about $3,887,000. Franklin Resources Inc. acquired a new stake in shares of Korro Bio in the fourth quarter worth about $3,493,000. Finally, Tri Locum Partners LP increased its holdings in shares of Korro Bio by 125.3% during the 4th quarter. Tri Locum Partners LP now owns 144,216 shares of the company's stock valued at $5,490,000 after acquiring an additional 80,202 shares during the last quarter. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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).