Korro Bio (NASDAQ:KRRO) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer began coverage on shares of Korro Bio (NASDAQ:KRRO) in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage issued an outperform rating and a $155.00 price target on the stock.

KRRO has been the subject of a number of other reports. Raymond James assumed coverage on Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price target for the company. William Blair reiterated an “outperform” rating on shares of Korro Bio in a research note on Wednesday, November 13th. Royal Bank of Canada increased their price target on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Korro Bio in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Korro Bio has an average rating of “Buy” and a consensus target price of $144.00.

Korro Bio Price Performance

NASDAQ KRRO opened at $35.26 on Friday. The business has a fifty day simple moving average of $48.34 and a 200 day simple moving average of $45.92. Korro Bio has a 12 month low of $30.00 and a 12 month 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, analysts anticipate that Korro Bio will post -9.7 earnings per share for the current year.

Insider Activity at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of the business’s stock in a transaction on Monday, November 11th. The shares were 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 SEC, which is accessible through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Korro Bio

Several hedge funds have recently made changes to their positions in KRRO. Millennium Management LLC boosted its stake in Korro Bio by 38.3% in the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock worth $2,852,000 after purchasing an additional 23,307 shares during the period. Tri Locum Partners LP bought a new stake in shares of Korro Bio during the second quarter valued at about $2,419,000. State Street Corp lifted its holdings in shares of Korro Bio by 18.9% in the third quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after buying an additional 18,877 shares in the last quarter. NEA Management Company LLC boosted its position in shares of Korro Bio by 1.7% in the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after acquiring an additional 17,857 shares during the period. Finally, Atlas Venture Life Science Advisors LLC grew its stake in Korro Bio by 1.6% during 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 acquiring an additional 17,857 shares in the last quarter. 13.18% of the stock is currently owned by hedge funds and other 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).