Korro Bio, Inc. (NASDAQ:KRRO) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have been assigned a consensus rating of “Buy” from the six analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $142.17.

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

Korro Bio Stock Up 6.6 %

Shares of KRRO opened at $46.88 on Tuesday. The stock has a 50-day moving average of $54.80 and a two-hundred day moving average of $46.14. Korro Bio has a one year low of $30.00 and a one year high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data 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, equities analysts expect that Korro Bio will post -9.63 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 company’s stock in a transaction on 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 can be accessed through the SEC website. 5.40% of the stock is currently owned by insiders.

Institutional Trading of Korro Bio

A number of large investors have recently modified their holdings of KRRO. Bank of New York Mellon Corp purchased a new stake in shares of Korro Bio during the second quarter worth $649,000. Rhumbline Advisers purchased a new position in Korro Bio in the second quarter valued at $279,000. Atlas Venture Life Science Advisors LLC increased its holdings 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 valued at $38,515,000 after buying an additional 17,857 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in Korro Bio in the second quarter valued at $28,000. Finally, Tri Locum Partners LP purchased a new position in Korro Bio in the second quarter valued at $2,419,000. Hedge funds and other institutional investors own 13.18% of the company’s stock.

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).