William Blair Has Positive View of Korro Bio FY2024 Earnings

Korro Bio, Inc. (NASDAQ:KRRO) – Research analysts at William Blair increased their FY2024 earnings per share (EPS) estimates for shares of Korro Bio in a research note issued to investors on Wednesday, November 13th. William Blair analyst M. Minter now expects that the company will post earnings per share of ($9.80) for the year, up from their prior forecast of ($10.56). William Blair has a “Outperform” rating on the stock. The consensus estimate for Korro Bio’s current full-year earnings is ($9.63) per share. William Blair also issued estimates for Korro Bio’s Q4 2024 earnings at ($2.68) EPS, Q1 2025 earnings at ($2.79) EPS, Q2 2025 earnings at ($2.89) EPS, Q3 2025 earnings at ($2.93) EPS, Q4 2025 earnings at ($2.99) EPS, FY2025 earnings at ($11.60) EPS, FY2026 earnings at ($12.56) EPS, FY2027 earnings at ($13.59) EPS and FY2028 earnings at ($12.97) EPS.

Several other equities research analysts have also recently commented on KRRO. HC Wainwright reissued a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a research note on Wednesday, November 13th. Royal Bank of Canada lifted their target price on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research note 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 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $142.17.

Korro Bio Price Performance

NASDAQ KRRO opened at $46.63 on Monday. The stock has a fifty day moving average of $50.36 and a 200-day moving average of $46.51. 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 earnings results on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, beating the consensus estimate of ($2.55) by $0.29.

Institutional Investors Weigh In On Korro Bio

A number of institutional investors have recently made changes to their positions in KRRO. Brown Brothers Harriman & Co. bought a new position in Korro Bio during the second quarter worth about $28,000. Quest Partners LLC lifted its holdings in Korro Bio by 172.1% during the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after acquiring an additional 1,124 shares in the last quarter. Vestcor Inc bought a new position in Korro Bio during the third quarter worth about $100,000. MetLife Investment Management LLC lifted its holdings in Korro Bio by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after acquiring an additional 2,050 shares in the last quarter. Finally, Lynx1 Capital Management LP bought a new position in Korro Bio during the second quarter worth about $129,000. 13.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction on Monday, November 11th. The stock was sold at an average price of $70.00, for a total transaction of $56,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.40% of the stock is owned by insiders.

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).