Korro Bio (NASDAQ:KRRO) Releases Earnings Results, Beats Expectations By $0.29 EPS

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

Korro Bio Stock Performance

NASDAQ KRRO traded down $12.25 on Wednesday, reaching $52.89. The stock had a trading volume of 295,469 shares, compared to its average volume of 69,518. The business has a 50 day moving average price of $49.52 and a 200 day moving average price of $46.86. Korro Bio has a 1 year low of $30.00 and a 1 year high of $98.00.

Wall Street Analysts Forecast Growth

KRRO has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Korro Bio in a research report on Wednesday. William Blair reiterated an “outperform” rating on shares of Korro Bio in a report on Wednesday. Raymond James began coverage on Korro Bio in a report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price target on the stock. Finally, 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 report on Monday, October 21st. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $142.17.

Insider Buying and Selling at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $70.00, for a total value of $56,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.40% 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).