Korro Bio (NASDAQ:KRRO) Given New $147.00 Price Target at Raymond James Financial

Key Points

• Raymond James Financial has reduced Korro Bio's price target from $153.00 to $147.00 while maintaining a "strong-buy" rating on the stock.
• Multiple research firms have lowered their price targets for Korro Bio, with Oppenheimer dropping theirs from $155.00 to $90.00 and HC Wainwright also lowering theirs to $90.00.
• The stock has a current market capitalization of $150.16 million and has experienced significant price fluctuations, with a 52-week low of $10.29 and a high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) had its target price reduced by analysts at Raymond James Financial from $153.00 to $147.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "strong-buy" rating on the stock.

A number of other research firms also recently commented on KRRO. HC Wainwright decreased their price target on Korro Bio from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday. Oppenheimer decreased their price target on Korro Bio from $155.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Chardan Capital reiterated a "buy" rating and issued a $25.00 price target on shares of Korro Bio in a research note on Tuesday, May 13th. Finally, Cantor Fitzgerald upgraded Korro Bio to a "strong-buy" rating in a research note on Tuesday, April 29th. 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 data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $86.83.

Korro Bio Stock Up 1.9%

Shares of Korro Bio stock traded up $0.38 during trading hours on Wednesday, hitting $20.26. 136,802 shares of the company's stock traded hands, compared to its average volume of 143,864. The stock has a 50 day simple moving average of $14.32 and a 200-day simple moving average of $18.02. The company has a market cap of $190.24 million, a PE ratio of -2.08 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 posted its quarterly 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 during the quarter, compared to analyst estimates of $0.41 million. As a group, equities research analysts predict that Korro Bio will post -9.52 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of KRRO. Quarry LP acquired a new position in Korro Bio in the first quarter valued at approximately $35,000. Wells Fargo & Company MN raised its holdings in shares of Korro Bio by 32.4% during the fourth quarter. Wells Fargo & Company MN now owns 3,392 shares of the company's stock valued at $129,000 after buying an additional 831 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Korro Bio by 29.4% during the fourth quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock valued at $156,000 after buying an additional 935 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Korro Bio by 320.1% during the first quarter. AlphaQuest LLC now owns 9,196 shares of the company's stock valued at $160,000 after buying an additional 7,007 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Korro Bio by 664.1% during the fourth quarter. Legal & General Group Plc now owns 4,325 shares of the company's stock valued at $165,000 after buying an additional 3,759 shares during the last quarter. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Korro Bio Company Profile

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).