HC Wainwright Lowers Korro Bio (NASDAQ:KRRO) Price Target to $90.00

Korro Bio (NASDAQ:KRRO) had its price target lowered by research analysts at HC Wainwright from $100.00 to $90.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 352.72% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Chardan Capital restated a “buy” rating and set a $25.00 price objective on shares of Korro Bio in a report on Tuesday, May 13th. Oppenheimer decreased their price objective on shares of Korro Bio from $155.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald upgraded shares of Korro Bio to a “strong-buy” rating in a report on Tuesday, April 29th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $86.83.

Korro Bio Stock Performance

Shares of NASDAQ KRRO opened at $19.88 on Wednesday. The stock has a market cap of $186.67 million, a P/E ratio of -2.04 and a beta of 2.51. The firm has a 50 day moving average price of $14.20 and a 200 day moving average price of $18.23. Korro Bio has a 52-week low of $10.29 and a 52-week high of $98.00.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($2.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.54) by ($0.20). The company had revenue of $1.46 million for the quarter, compared to analysts’ expectations of $0.41 million. Analysts predict that Korro Bio will post -9.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KRRO. Quarry LP acquired a new position in shares of Korro Bio in the first quarter valued at approximately $35,000. Wells Fargo & Company MN lifted its position in shares of Korro Bio by 32.4% in the fourth quarter. Wells Fargo & Company MN now owns 3,392 shares of the company’s stock worth $129,000 after purchasing an additional 831 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Korro Bio by 29.4% in the fourth quarter. Deutsche Bank AG now owns 4,110 shares of the company’s stock worth $156,000 after purchasing an additional 935 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Korro Bio by 320.1% in the first quarter. AlphaQuest LLC now owns 9,196 shares of the company’s stock worth $160,000 after purchasing an additional 7,007 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Korro Bio by 664.1% in the fourth quarter. Legal & General Group Plc now owns 4,325 shares of the company’s stock worth $165,000 after purchasing an additional 3,759 shares in the last quarter. Institutional investors and hedge funds own 13.18% of the company’s stock.

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).