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

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

Korro Bio Trading Down 15.0 %

KRRO traded down $9.77 on Wednesday, hitting $55.37. 289,341 shares of the company’s stock were exchanged, compared to its average volume of 69,490. Korro Bio has a fifty-two week low of $30.00 and a fifty-two week high of $98.00. The firm has a 50-day moving average price of $49.52 and a 200-day moving average price of $46.86.

Insiders Place Their Bets

In other Korro Bio news, CFO Vineet Agarwal sold 10,216 shares of Korro Bio stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on KRRO shares. William Blair reiterated an “outperform” rating on shares of Korro Bio in a report on Wednesday. Raymond James assumed coverage on shares of Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price target for the company. Royal Bank of Canada raised their price target on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Korro Bio in a report on Wednesday. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $142.17.

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).