HC Wainwright Reiterates "Buy" Rating for Korro Bio (NASDAQ:KRRO)

Korro Bio (NASDAQ:KRRO - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $100.00 price target on the stock.

A number of other research analysts have also recently issued reports on KRRO. Chardan Capital reaffirmed a "buy" rating and issued a $25.00 target price on shares of Korro Bio in a report on Tuesday, May 13th. Oppenheimer dropped their price objective on shares of Korro Bio from $155.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Cantor Fitzgerald raised shares of Korro Bio to a "strong-buy" rating in a research note on Tuesday, April 29th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Korro Bio currently has an average rating of "Buy" and a consensus price target of $102.43.

Korro Bio Price Performance

Korro Bio stock traded up $0.11 during mid-day trading on Thursday, reaching $16.01. The company had a trading volume of 79,465 shares, compared to its average volume of 125,923. Korro Bio has a 1 year low of $10.29 and a 1 year high of $98.00. The company has a market capitalization of $150.33 million, a P/E ratio of -1.70 and a beta of 2.43. The stock's 50-day simple moving average is $13.40 and its 200-day simple moving average is $20.16.

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, beating analysts' consensus estimates 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. On average, equities analysts forecast that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Trading of Korro Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in Korro Bio in the 4th quarter worth approximately $53,000. Quarry LP purchased a new stake in Korro Bio in the 1st quarter worth approximately $35,000. Wells Fargo & Company MN grew its stake in Korro Bio by 32.4% in the 4th quarter. Wells Fargo & Company MN now owns 3,392 shares of the company's stock worth $129,000 after acquiring an additional 831 shares during the period. Deutsche Bank AG grew its stake in Korro Bio by 29.4% in the 4th quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock worth $156,000 after acquiring an additional 935 shares during the period. Finally, Legal & General Group Plc grew its stake in Korro Bio by 664.1% in the 4th quarter. Legal & General Group Plc now owns 4,325 shares of the company's stock worth $165,000 after acquiring an additional 3,759 shares during the period. 13.18% of the stock is owned by hedge funds and other institutional investors.

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).