Korro Bio (NASDAQ:KRRO) Posts Earnings Results, Beats Estimates By $0.29 EPS

Korro Bio (NASDAQ:KRRO) issued its quarterly earnings data on Tuesday. The company reported ($2.26) EPS for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29, Zacks reports.

Korro Bio Price Performance

NASDAQ:KRRO traded down $5.31 during mid-day trading on Thursday, reaching $49.70. 110,750 shares of the stock were exchanged, compared to its average volume of 69,822. The business has a fifty day moving average price of $49.77 and a 200 day moving average price of $46.92. Korro Bio has a 1-year low of $30.00 and a 1-year high of $98.00.

Insider Buying and Selling

In other news, CFO Vineet Agarwal sold 800 shares of Korro Bio 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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

KRRO has been the subject of several recent analyst reports. Raymond James initiated coverage on shares of Korro Bio in a research report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price for the company. Royal Bank of Canada boosted their price target on Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. William Blair restated an “outperform” rating on shares of Korro Bio in a research note on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a research report on Wednesday. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $142.17.

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).