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 reiterated by investment analysts at Chardan Capital in a report released on Wednesday,Benzinga reports. They presently have a $25.00 target price on the stock. Chardan Capital's target price suggests a potential upside of 32.07% from the company's previous close.

KRRO has been the subject of several other research reports. HC Wainwright decreased their price objective on shares of Korro Bio from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday. Raymond James Financial decreased their price objective on shares of Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating for the company in a research note on Wednesday. Cantor Fitzgerald raised shares of Korro Bio to a "strong-buy" rating in a report on Tuesday, April 29th. Finally, Oppenheimer reduced their target price on shares of Korro Bio from $155.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Korro Bio presently has an average rating of "Buy" and a consensus price target of $100.14.

Korro Bio Trading Up 18.4%

Shares of KRRO stock traded up $2.94 on Wednesday, reaching $18.93. 285,312 shares of the stock were exchanged, compared to its average volume of 114,297. The business's 50 day moving average price is $13.91 and its 200 day moving average price is $18.34. The company has a market capitalization of $177.77 million, a price-to-earnings ratio of -2.01 and a beta of 2.51. Korro Bio has a twelve month low of $10.29 and a twelve month high of $98.00.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in KRRO. Geode Capital Management LLC increased its holdings in Korro Bio by 10.8% in the second quarter. Geode Capital Management LLC now owns 155,387 shares of the company's stock valued at $1,941,000 after buying an additional 15,166 shares in the last quarter. AlphaQuest LLC grew its position in shares of Korro Bio by 195.9% in the second quarter. AlphaQuest LLC now owns 27,211 shares of the company's stock valued at $340,000 after purchasing an additional 18,015 shares during the last quarter. Cormorant Asset Management LP purchased a new stake in Korro Bio in the 1st quarter worth approximately $6,621,000. ADAR1 Capital Management LLC boosted its holdings in shares of Korro Bio by 18.5% during the first quarter. ADAR1 Capital Management LLC now owns 68,715 shares of the company's stock worth $1,196,000 after purchasing an additional 10,737 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Korro Bio during the first quarter worth $35,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

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).

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