Korro Bio, Inc. (NASDAQ:KRRO) Receives $142.17 Average Price Target from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have received a consensus rating of “Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $144.00.

KRRO has been the subject of a number of recent research reports. Oppenheimer initiated coverage on Korro Bio in a report on Friday. They issued an “outperform” rating and a $155.00 target price for the company. Royal Bank of Canada boosted their price objective on Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a report on Friday, November 22nd. Raymond James started coverage on shares of Korro Bio in a report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price target for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th.

Insider Activity at Korro Bio

In other news, CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of Korro Bio

A number of large investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in Korro Bio in the second quarter valued at approximately $28,000. Quest Partners LLC increased its holdings in shares of Korro Bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after acquiring an additional 1,124 shares during the period. Vestcor Inc purchased a new stake in Korro Bio in the 3rd quarter valued at $100,000. MetLife Investment Management LLC boosted its stake in Korro Bio by 129.0% during the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after purchasing an additional 2,050 shares during the period. Finally, Lynx1 Capital Management LP acquired a new stake in Korro Bio during the 2nd quarter worth $129,000. 13.18% of the stock is owned by institutional investors and hedge funds.

Korro Bio Trading Down 6.3 %

Shares of NASDAQ:KRRO opened at $35.26 on Friday. Korro Bio has a 1 year low of $30.00 and a 1 year high of $98.00. The firm’s 50-day moving average is $48.34 and its two-hundred day moving average is $45.92.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, topping the consensus estimate of ($2.55) by $0.29. As a group, research analysts anticipate that Korro Bio will post -9.7 EPS for the current fiscal year.

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).