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

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $136.33.

Several research firms have recently issued reports on KRRO. HC Wainwright restated a “buy” rating and set a $115.00 price objective on shares of Korro Bio in a report on Thursday, March 20th. Royal Bank of Canada lowered their price target on Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Finally, Oppenheimer assumed coverage on shares of Korro Bio in a research report on Friday, January 10th. They issued an “outperform” rating and a $155.00 target price on the stock.

Institutional Trading of Korro Bio

A number of institutional investors have recently added to or reduced their stakes in KRRO. Alliancebernstein L.P. purchased a new position in Korro Bio in the fourth quarter valued at about $26,870,000. Driehaus Capital Management LLC raised its holdings in shares of Korro Bio by 220.3% during the 4th quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company’s stock valued at $18,841,000 after buying an additional 340,410 shares during the period. Woodline Partners LP purchased a new stake in shares of Korro Bio during the 4th quarter valued at about $3,887,000. Franklin Resources Inc. acquired a new position in Korro Bio during the 4th quarter worth approximately $3,493,000. Finally, Tri Locum Partners LP boosted its holdings in Korro Bio by 125.3% in the 4th quarter. Tri Locum Partners LP now owns 144,216 shares of the company’s stock worth $5,490,000 after acquiring an additional 80,202 shares during the period. 13.18% of the stock is owned by hedge funds and other institutional investors.

Korro Bio Trading Down 12.9 %

Shares of KRRO stock opened at $17.76 on Thursday. Korro Bio has a twelve month low of $17.14 and a twelve month high of $98.00. The company has a market capitalization of $166.75 million, a price-to-earnings ratio of -1.89 and a beta of 2.13. The firm has a 50-day moving average price of $28.87 and a 200 day moving average price of $40.93.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($2.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.33) by $0.07. The firm had revenue of $2.27 million for the quarter. As a group, research analysts predict that Korro Bio will post -9.52 earnings per share for the current year.

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).