Korro Bio’s (KRRO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a research report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $115.00 price objective on the stock.

A number of other research analysts have also recently weighed in on KRRO. Royal Bank of Canada lifted their price objective on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. William Blair restated an “outperform” rating on shares of Korro Bio in a research note on Wednesday. Finally, Raymond James started coverage on Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $142.17.

Korro Bio Stock Down 4.3 %

Korro Bio stock opened at $47.56 on Wednesday. The business’s 50-day moving average price is $50.05 and its 200 day moving average price is $46.85. Korro Bio has a 52 week low of $30.00 and a 52 week high of $98.00.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. Sell-side analysts forecast that Korro Bio will post -10.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vineet Agarwal sold 800 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $70.00, for a total transaction of $56,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in shares of Korro Bio in the second quarter worth about $649,000. Rhumbline Advisers acquired a new stake in Korro Bio in the 2nd quarter valued at about $279,000. Atlas Venture Life Science Advisors LLC lifted its stake in Korro Bio by 1.6% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock worth $38,515,000 after purchasing an additional 17,857 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in Korro Bio in the 2nd quarter worth approximately $28,000. Finally, Tri Locum Partners LP acquired a new position in shares of Korro Bio during the 2nd quarter worth approximately $2,419,000. Institutional investors and hedge funds own 13.18% 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).