Royal Bank of Canada Boosts Korro Bio (NASDAQ:KRRO) Price Target to $105.00

Korro Bio (NASDAQ:KRRO) had its price objective increased by Royal Bank of Canada from $95.00 to $105.00 in a report released on Monday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on KRRO. Raymond James assumed coverage on Korro Bio in a research report on Monday. They issued a “strong-buy” rating and a $153.00 price objective on the stock. William Blair began coverage on Korro Bio in a research report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price objective on the stock. Finally, HC Wainwright lifted their price objective on Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $142.17.

Korro Bio Price Performance

NASDAQ KRRO opened at $68.13 on Monday. Korro Bio has a 12 month low of $9.15 and a 12 month high of $98.00. The stock’s fifty day moving average price is $44.28 and its 200-day moving average price is $47.52.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). On average, equities research analysts forecast that Korro Bio will post -10.09 earnings per share for the current year.

Insider Activity at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 10,216 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $78.26, for a total value of $799,504.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 16.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Korro Bio

Several institutional investors have recently made changes to their positions in KRRO. Brown Brothers Harriman & Co. bought a new stake in Korro Bio during the second quarter valued at approximately $28,000. Lynx1 Capital Management LP bought a new stake in shares of Korro Bio during the 2nd quarter valued at $129,000. Rhumbline Advisers purchased a new stake in shares of Korro Bio in the 2nd quarter worth $279,000. Bank of New York Mellon Corp purchased a new stake in shares of Korro Bio in the 2nd quarter worth $649,000. Finally, Tri Locum Partners LP bought a new position in Korro Bio in the 2nd quarter worth $2,419,000. Institutional investors 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).