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

Korro Bio, Inc. (NASDAQ:KRRO) has been assigned an average recommendation of “Buy” from the five ratings firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $138.00.

A number of equities analysts recently issued reports on the company. William Blair assumed coverage on Korro Bio in a report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price objective for the company. Raymond James assumed coverage on shares of Korro Bio in a research note on Monday. They set a “strong-buy” rating and a $153.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Korro Bio in a report on Thursday, September 19th. Finally, HC Wainwright upped their target price on shares of Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday.

Insider Buying and Selling

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 shares were sold at an average price of $78.26, for a total transaction of $799,504.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 16.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Korro Bio during the 2nd quarter worth $649,000. Rhumbline Advisers bought a new position in Korro Bio in the second quarter worth about $279,000. Atlas Venture Life Science Advisors LLC lifted its position in shares of Korro Bio by 1.6% during 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 stake in shares of Korro Bio during the second quarter valued at about $28,000. Finally, Tri Locum Partners LP bought a new stake in shares of Korro Bio in the 2nd quarter valued at about $2,419,000. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Korro Bio Stock Performance

Korro Bio stock opened at $80.04 on Monday. Korro Bio has a 12-month low of $9.15 and a 12-month high of $98.00. The firm has a 50-day moving average price of $42.25 and a 200-day moving average price of $47.33.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($2.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.39) by ($0.04). As a group, analysts predict that Korro Bio will post -10.09 earnings per share for the current fiscal year.

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).