Q2 2024 EPS Estimates for Korro Bio, Inc. (NASDAQ:KRRO) Lifted by HC Wainwright

Korro Bio, Inc. (NASDAQ:KRRO - Free Report) - HC Wainwright increased their Q2 2024 earnings per share estimates for Korro Bio in a research note issued to investors on Wednesday, May 15th. HC Wainwright analyst M. Kapoor now anticipates that the company will post earnings per share of ($2.43) for the quarter, up from their prior forecast of ($2.58). HC Wainwright has a "Buy" rating and a $100.00 price target on the stock. The consensus estimate for Korro Bio's current full-year earnings is ($10.43) per share. HC Wainwright also issued estimates for Korro Bio's Q3 2024 earnings at ($2.24) EPS, Q4 2024 earnings at ($2.31) EPS, FY2024 earnings at ($9.41) EPS, Q1 2025 earnings at ($2.48) EPS, Q2 2025 earnings at ($2.56) EPS, Q3 2025 earnings at ($2.64) EPS, Q4 2025 earnings at ($2.72) EPS and FY2025 earnings at ($10.40) EPS.

Several other equities analysts have also issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Korro Bio from $70.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, March 27th. BMO Capital Markets restated an "outperform" rating and set a $120.00 price objective on shares of Korro Bio in a report on Wednesday. Finally, Piper Sandler reissued an "overweight" rating and set a $180.00 target price on shares of Korro Bio in a research report on Wednesday, March 27th.

Korro Bio Stock Up 6.6 %

Shares of Korro Bio stock traded up $3.40 on Friday, reaching $54.66. The stock had a trading volume of 60,791 shares, compared to its average volume of 29,256. The firm's 50 day moving average price is $66.00. Korro Bio has a 1 year low of $9.15 and a 1 year high of $97.91.

Institutional Trading of Korro Bio

Hedge funds have recently added to or reduced their stakes in the company. North Star Investment Management Corp. purchased a new position in Korro Bio during the fourth quarter valued at $48,000. Monashee Investment Management LLC purchased a new position in Korro Bio in the 4th quarter valued at about $4,352,000. 72 Investment Holdings LLC acquired a new stake in Korro Bio in the 4th quarter worth about $13,269,000. Eventide Asset Management LLC acquired a new position in shares of Korro Bio during the fourth quarter valued at approximately $26,185,000. Finally, Atlas Venture Life Science Advisors LLC purchased a new position in shares of Korro Bio in the fourth quarter valued at approximately $53,648,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Korro Bio news, major shareholder Venture Opportunity Fund Atlas purchased 17,857 shares of the business's stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average price of $56.00 per share, for a total transaction of $999,992.00. Following the acquisition, the insider now owns 195,074 shares in the company, valued at $10,924,144. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.80% 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).