Korro Bio’s (KRRO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $115.00 target price on the stock.

A number of other brokerages have also recently issued reports on KRRO. Royal Bank of Canada lifted their price objective on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. William Blair reiterated an “outperform” rating on shares of Korro Bio in a research report on Wednesday. Finally, Raymond James started coverage on shares of Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $142.17.

Korro Bio Stock Down 4.3 %

Shares of NASDAQ KRRO opened at $47.56 on Wednesday. Korro Bio has a 1 year low of $30.00 and a 1 year high of $98.00. The stock’s 50-day simple moving average is $50.05 and its 200-day simple moving average is $46.78.

Korro Bio (NASDAQ:KRRO) last issued 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. Research analysts forecast that Korro Bio will post -10.02 earnings per share for the current fiscal year.

Insider Activity at Korro Bio

In related news, CFO Vineet Agarwal sold 800 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $70.00, for a total value of $56,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Korro Bio

Several institutional investors and hedge funds have recently bought and sold shares of KRRO. Millennium Management LLC raised its holdings 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 acquiring an additional 23,307 shares during the last quarter. Tri Locum Partners LP purchased a new position in Korro Bio during the second quarter valued at $2,419,000. NEA Management Company LLC grew its holdings in Korro Bio by 1.7% during the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after purchasing an additional 17,857 shares during the period. Atlas Venture Life Science Advisors LLC increased its position in Korro Bio by 1.6% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock worth $38,515,000 after buying an additional 17,857 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Korro Bio by 71.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock worth $15,448,000 after acquiring an additional 190,259 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).