Korro Bio (NASDAQ:KRRO) Receives Buy Rating from HC Wainwright

Korro Bio (NASDAQ:KRRO)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $115.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 127.18% from the stock’s previous close.

Several other research analysts have also recently issued reports on KRRO. William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th. Raymond James started coverage on shares of Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Korro Bio currently has a consensus rating of “Buy” and a consensus target price of $142.17.

Korro Bio Stock Performance

Shares of KRRO stock opened at $50.62 on Friday. Korro Bio has a 12 month low of $30.00 and a 12 month high of $98.00. The firm has a fifty day simple moving average of $50.68 and a two-hundred day simple moving average of $46.54.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results 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 predict that Korro Bio will post -9.63 earnings per share for the current year.

Insider Transactions at Korro Bio

In related news, CFO Vineet Agarwal sold 10,216 shares of Korro Bio stock in a transaction that occurred 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Korro Bio

Several hedge funds have recently made changes to their positions in the stock. Vestcor Inc bought a new position in Korro Bio in the 3rd quarter worth about $100,000. Wellington Management Group LLP bought a new stake in Korro Bio during the 3rd quarter worth approximately $436,000. State Street Corp lifted its stake in Korro Bio by 18.9% in the 3rd quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after purchasing an additional 18,877 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in 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 purchasing an additional 2,050 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Korro Bio by 1,018.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock valued at $164,000 after purchasing an additional 4,470 shares in the last quarter. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

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).