Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) shares traded up 5.6% during mid-day trading on Thursday . The company traded as high as $54.75 and last traded at $54.22. 66,003 shares were traded during mid-day trading, a decline of 54% from the average session volume of 143,757 shares. The stock had previously closed at $51.36.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Raymond James Financial dropped their price objective on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, August 13th. Chardan Capital reissued a "buy" rating and issued a $25.00 price objective on shares of Korro Bio in a report on Wednesday, August 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Korro Bio in a report on Tuesday. Finally, HC Wainwright decreased their price objective on Korro Bio from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $86.83.
Check Out Our Latest Stock Analysis on KRRO
Korro Bio Price Performance
The stock has a market capitalization of $513.22 million, a PE ratio of -5.63 and a beta of 2.89. The company has a 50 day moving average price of $31.56 and a 200-day moving average price of $20.27.
Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its 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 firm had revenue of $1.46 million during the quarter, compared to analysts' expectations of $0.41 million. As a group, equities analysts anticipate that Korro Bio, Inc. will post -9.52 earnings per share for the current year.
Institutional Investors Weigh In On Korro Bio
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Korro Bio by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company's stock worth $318,000 after purchasing an additional 790 shares during the period. Bank of New York Mellon Corp grew its stake in 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 worth $281,000 after purchasing an additional 1,325 shares during the period. Quarry LP purchased a new stake in Korro Bio in the first quarter worth $35,000. CWM LLC grew its stake in Korro Bio by 391.4% in the third quarter. CWM LLC now owns 2,693 shares of the company's stock worth $129,000 after purchasing an additional 2,145 shares during the period. Finally, Blair William & Co. IL grew its stake in Korro Bio by 25.9% in the first quarter. Blair William & Co. IL now owns 16,230 shares of the company's stock worth $283,000 after purchasing an additional 3,335 shares during the period. 13.18% of the stock is owned by hedge funds and other institutional investors.
Korro Bio Company Profile
(
Get Free Report)
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).
Further Reading
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