Korro Bio’s (KRRO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $115.00 target price on the stock.

KRRO has been the topic of several other research reports. Royal Bank of Canada lifted their price objective on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a research note on Wednesday. Finally, Raymond James began coverage on shares of Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price target for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Korro Bio presently has a consensus rating of “Buy” and an average price target of $142.17.

Korro Bio Trading Down 15.6 %

Shares of NASDAQ:KRRO opened at $55.01 on Wednesday. The firm’s 50 day simple moving average is $49.52 and its 200 day simple moving average is $46.86. Korro Bio has a fifty-two week low of $30.00 and a fifty-two week high of $98.00.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.55) by $0.29. Sell-side analysts predict that Korro Bio will post -10.02 EPS for the current year.

Insider Transactions at Korro Bio

In other 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. bought a new position in shares of Korro Bio in the 2nd quarter valued at about $28,000. Quest Partners LLC increased its holdings in Korro Bio by 172.1% during the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after buying an additional 1,124 shares during the last quarter. MetLife Investment Management LLC increased its holdings in Korro Bio by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after buying an additional 2,050 shares during the last quarter. Lynx1 Capital Management LP bought a new stake in Korro Bio during the second quarter worth $129,000. Finally, BNP Paribas Financial Markets lifted its stake in Korro Bio by 1,018.2% in the third quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock valued at $164,000 after acquiring an additional 4,470 shares during the last quarter. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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).