Korro Bio (NASDAQ:KRRO) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Korro Bio (NASDAQ:KRRO) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a report on Thursday, March 20th. Royal Bank of Canada reduced their target price on Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Oppenheimer began coverage on Korro Bio in a report on Friday, January 10th. They issued an “outperform” rating and a $155.00 price target for the company. Finally, Chardan Capital began coverage on shares of Korro Bio in a research note on Wednesday, April 16th. They issued a “buy” rating and a $25.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $114.63.

Korro Bio Stock Down 4.6 %

KRRO stock opened at $16.67 on Tuesday. The firm has a market cap of $156.51 million, a PE ratio of -1.78 and a beta of 2.31. The business has a 50 day moving average of $19.07 and a 200 day moving average of $37.06. Korro Bio has a twelve month low of $11.13 and a twelve month high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, beating the consensus estimate of ($2.33) by $0.07. The company had revenue of $2.27 million for the quarter. On average, research analysts expect that Korro Bio will post -9.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in Korro Bio during the fourth quarter worth $53,000. AlphaQuest LLC grew its holdings in Korro Bio by 23.2% in the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock valued at $83,000 after buying an additional 412 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Korro Bio by 32.4% in the 4th quarter. Wells Fargo & Company MN now owns 3,392 shares of the company’s stock valued at $129,000 after purchasing an additional 831 shares during the last quarter. Deutsche Bank AG grew its position in Korro Bio by 29.4% during the fourth quarter. Deutsche Bank AG now owns 4,110 shares of the company’s stock valued at $156,000 after acquiring an additional 935 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Korro Bio by 664.1% during the 4th 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 during the period. 13.18% of the stock is currently 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).