Korro Bio, Inc. (NASDAQ:KRRO) Given Average Recommendation of “Buy” by Brokerages

Korro Bio, Inc. (NASDAQ:KRRO) has earned an average rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $142.17.

Several equities research analysts recently issued reports on KRRO shares. William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Korro Bio in a research note on Friday, November 22nd. Royal Bank of Canada increased 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. Finally, Raymond James assumed coverage on Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective on the stock.

Insider Transactions at Korro Bio

In related news, CFO Vineet Agarwal sold 10,216 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total value of $799,504.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in Korro Bio by 374.9% during the third quarter. JPMorgan Chase & Co. now owns 12,391 shares of the company’s stock worth $414,000 after purchasing an additional 9,782 shares during the period. Vestcor Inc bought a new position in shares of Korro Bio during the 3rd quarter worth approximately $100,000. Wellington Management Group LLP acquired a new stake in shares of Korro Bio during the 3rd quarter worth approximately $436,000. State Street Corp increased its stake in shares of Korro Bio by 18.9% in the 3rd quarter. State Street Corp now owns 118,765 shares of the company’s stock valued at $3,969,000 after acquiring an additional 18,877 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Korro Bio by 129.0% in the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after acquiring an additional 2,050 shares in the last quarter. 13.18% of the stock is owned by institutional investors.

Korro Bio Stock Down 2.0 %

Shares of KRRO stock opened at $37.62 on Friday. Korro Bio has a fifty-two week low of $30.00 and a fifty-two week high of $98.00. The stock’s fifty day moving average price is $49.20 and its two-hundred day moving average price is $45.98.

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 the consensus estimate of ($2.55) by $0.29. As a group, analysts forecast that Korro Bio will post -9.7 earnings per share for the current 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).