Korro Bio, Inc. (NASDAQ:KRRO) Given Average Recommendation of “Buy” by Brokerages

Korro Bio, Inc. (NASDAQ:KRRO) has been assigned a consensus rating of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $86.8333.

KRRO has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a research note on Tuesday, October 14th. Chardan Capital reissued a “buy” rating and set a $25.00 price target on shares of Korro Bio in a research note on Wednesday, August 13th. HC Wainwright decreased their price target on Korro Bio from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Finally, Raymond James Financial decreased their price target on Korro Bio from $153.00 to $147.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 13th.

Korro Bio Price Performance

Korro Bio stock opened at $36.45 on Friday. Korro Bio has a 1-year low of $10.29 and a 1-year high of $76.79. The company has a market cap of $342.27 million, a PE ratio of -3.74 and a beta of 2.89. The stock’s 50 day moving average price is $36.54 and its 200 day moving average price is $22.33.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($2.74) earnings per share 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 analysts’ expectations of $0.41 million. On average, equities research analysts anticipate that Korro Bio will post -9.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Korro Bio

Institutional investors have recently made changes to their positions in the stock. Driehaus Capital Management LLC raised its holdings in Korro Bio by 17.7% in the 1st quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company’s stock valued at $10,140,000 after acquiring an additional 87,544 shares during the last quarter. Cormorant Asset Management LP acquired a new position in Korro Bio in the 1st quarter valued at $6,621,000. Geode Capital Management LLC raised its holdings in Korro Bio by 10.8% in the 2nd quarter. Geode Capital Management LLC now owns 155,387 shares of the company’s stock valued at $1,941,000 after acquiring an additional 15,166 shares during the last quarter. Aberdeen Group plc acquired a new position in Korro Bio in the 1st quarter valued at $1,470,000. Finally, Raymond James Financial Inc. raised its holdings in Korro Bio by 357.6% in the 2nd quarter. Raymond James Financial Inc. now owns 83,392 shares of the company’s stock valued at $1,042,000 after acquiring an additional 65,170 shares during the last quarter. 13.18% of the stock is 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).