Korro Bio, Inc. (NASDAQ:KRRO) Receives $142.17 Average Price Target from Brokerages

Korro Bio, Inc. (NASDAQ:KRRO) has been given an average rating of “Buy” by the six research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $142.17.

A number of research firms recently weighed in on KRRO. HC Wainwright reiterated a “buy” rating and issued a $115.00 price target on shares of Korro Bio in a research report on Wednesday, November 13th. William Blair reiterated an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Royal Bank of Canada lifted their price target on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Raymond James assumed coverage on Korro Bio in a research note on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price objective on the stock.

Korro Bio Stock Down 4.3 %

NASDAQ:KRRO opened at $47.56 on Friday. The business’s 50-day moving average price is $50.05 and its 200 day moving average price is $46.68. Korro Bio has a 52-week low of $30.00 and a 52-week high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.55) by $0.29. On average, equities analysts expect that Korro Bio will post -9.63 EPS for the current fiscal year.

Insider Transactions at Korro Bio

In other news, CFO Vineet Agarwal sold 800 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Atlas Venture Life Science Advisors LLC lifted its holdings in Korro Bio by 1.6% during the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock worth $38,515,000 after purchasing an additional 17,857 shares during the last quarter. NEA Management Company LLC raised its holdings in shares of Korro Bio by 1.7% during the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock worth $36,945,000 after buying an additional 17,857 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Korro Bio by 71.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock worth $15,448,000 after buying an additional 190,259 shares in the last quarter. State Street Corp grew its position in Korro Bio by 18.9% during the 3rd quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after acquiring an additional 18,877 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of Korro Bio in the 2nd quarter valued at about $3,958,000. 13.18% of the stock is currently owned by 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).