Korro Bio, Inc. (NASDAQ:KRRO) Receives Average Recommendation of “Buy” from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $142.17.

Several equities research analysts have recently issued reports on KRRO shares. Royal Bank of Canada increased their target price on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. William Blair reiterated an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th. Raymond James began coverage on Korro Bio in a research report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $115.00 target price on shares of Korro Bio in a research report on Friday, November 22nd.

Korro Bio Trading Up 11.5 %

NASDAQ KRRO opened at $47.49 on Tuesday. The stock has a 50-day simple moving average of $53.69 and a two-hundred day simple moving average of $46.19. Korro Bio has a fifty-two week low of $30.00 and a fifty-two week high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, topping the consensus estimate of ($2.55) by $0.29. On average, research analysts anticipate that Korro Bio will post -9.63 earnings per share for the current year.

Insider Transactions at Korro Bio

In related news, CFO Vineet Agarwal sold 800 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were 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 available through this hyperlink. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in shares of Korro Bio in the 2nd quarter valued at approximately $649,000. Rhumbline Advisers purchased a new stake in Korro Bio in the 2nd quarter valued at about $279,000. Atlas Venture Life Science Advisors LLC lifted its position in Korro Bio by 1.6% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock valued at $38,515,000 after buying an additional 17,857 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in Korro Bio during the second quarter worth about $28,000. Finally, Tri Locum Partners LP acquired a new stake in shares of Korro Bio during the second quarter valued at about $2,419,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

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).