Korro Bio's (KRRO) Buy Rating Reaffirmed at Chardan Capital

Key Points

• Korro Bio's stock maintains a "buy" rating from Chardan Capital, with a target price of $25.00, indicating a 32.07% potential upside from its previous close.
• Shares of Korro Bio experienced an 18.4% increase, reaching $18.93, with significant trading volume of 285,312 shares.
• Analysts have mixed price targets, with ranges decreasing from $100.00 to $90.00, yet maintaining a consensus "buy" rating across five firms.

Korro Bio (NASDAQ:KRRO - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Chardan Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $25.00 target price on the stock. Chardan Capital's price objective suggests a potential upside of 26.77% from the company's current price.

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald raised Korro Bio to a "strong-buy" rating in a report on Tuesday, April 29th. HC Wainwright reduced their price target on Korro Bio from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Oppenheimer decreased their price target on Korro Bio from $155.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Raymond James Financial cut their price objective on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating for the company in a research report on Wednesday, August 13th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Korro Bio presently has a consensus rating of "Buy" and a consensus target price of $86.83.

Korro Bio Stock Down 2.7%

KRRO traded down $0.54 on Wednesday, hitting $19.72. 162,738 shares of the company traded hands, compared to its average volume of 145,722. Korro Bio has a 12-month low of $10.29 and a 12-month high of $98.00. The company has a 50 day moving average of $14.41 and a 200-day moving average of $17.80. The stock has a market capitalization of $185.17 million, a PE ratio of -2.02 and a beta of 2.51.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($2.74) earnings per share for the quarter, missing the consensus estimate of ($2.54) by ($0.20). The company had revenue of $1.46 million during the quarter, compared to analysts' expectations of $0.41 million. On average, research analysts anticipate that Korro Bio will post -9.52 EPS for the current year.

Institutional Trading of Korro Bio

Large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its position in shares of Korro Bio by 520.0% in the second quarter. Bank of America Corp DE now owns 28,156 shares of the company's stock valued at $352,000 after buying an additional 23,615 shares in the last quarter. Raymond James Financial Inc. grew its stake in Korro Bio by 357.6% in the 2nd quarter. Raymond James Financial Inc. now owns 83,392 shares of the company's stock valued at $1,042,000 after acquiring an additional 65,170 shares during the last quarter. Geode Capital Management LLC increased its holdings in Korro Bio by 10.8% during the 2nd quarter. Geode Capital Management LLC now owns 155,387 shares of the company's stock valued at $1,941,000 after acquiring an additional 15,166 shares in the last quarter. AlphaQuest LLC increased its holdings in Korro Bio by 195.9% during the 2nd quarter. AlphaQuest LLC now owns 27,211 shares of the company's stock valued at $340,000 after acquiring an additional 18,015 shares in the last quarter. Finally, Cormorant Asset Management LP acquired a new position in Korro Bio during the first quarter worth about $6,621,000. Institutional investors and hedge funds 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).