Korro Bio (NASDAQ:KRRO) Rating Increased to Strong-Buy at Cantor Fitzgerald

Korro Bio (NASDAQ:KRRO - Get Free Report) was upgraded by research analysts at Cantor Fitzgerald to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports. Cantor Fitzgerald also issued estimates for Korro Bio's FY2025 earnings at ($8.91) EPS.

KRRO has been the topic of several other reports. HC Wainwright reiterated a "buy" rating and issued a $115.00 price objective on shares of Korro Bio in a report on Thursday, March 20th. Chardan Capital assumed coverage on Korro Bio in a report on Wednesday, April 16th. They set a "buy" rating and a $25.00 price objective for the company. Oppenheimer started coverage on Korro Bio in a research report on Friday, January 10th. They issued an "outperform" rating and a $155.00 target price on the stock. Finally, Royal Bank of Canada dropped their price target on Korro Bio from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Wednesday, March 19th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $114.63.

Korro Bio Price Performance

NASDAQ:KRRO traded down $1.47 during trading hours on Tuesday, reaching $19.48. 36,357 shares of the stock were exchanged, compared to its average volume of 96,867. The stock has a market cap of $182.89 million, a PE ratio of -2.06 and a beta of 2.66. Korro Bio has a twelve month low of $11.13 and a twelve month high of $98.00. The firm has a 50 day moving average of $18.64 and a 200 day moving average of $36.07.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Korro Bio by 374.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,391 shares of the company's stock worth $414,000 after purchasing an additional 9,782 shares during the period. Rhumbline Advisers raised its position in Korro Bio by 7.8% in the fourth quarter. Rhumbline Advisers now owns 9,602 shares of the company's stock worth $366,000 after acquiring an additional 691 shares during the period. Bank of New York Mellon Corp boosted its stake in Korro Bio by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company's stock valued at $563,000 after acquiring an additional 435 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Korro Bio during the 4th quarter valued at approximately $394,000. Finally, AlphaQuest LLC increased its stake in shares of Korro Bio by 23.2% during the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company's stock worth $83,000 after purchasing an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 13.18% of the company's stock.

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).