Korro Bio, Inc. (NASDAQ:KRRO) Receives Average Rating of “Buy” from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have received a consensus recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $144.00.

Several research analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of Korro Bio in a report on Friday, January 10th. They issued an “outperform” rating and a $155.00 target price for the company. William Blair restated an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Korro Bio in a research note on Friday, November 22nd.

Korro Bio Stock Performance

Shares of Korro Bio stock opened at $26.29 on Friday. The company has a fifty day simple moving average of $37.04 and a 200-day simple moving average of $44.08. Korro Bio has a 12-month low of $26.23 and a 12-month high of $98.00.

Institutional Trading of Korro Bio

Several hedge funds have recently made changes to their positions in KRRO. KLP Kapitalforvaltning AS purchased a new stake in shares of Korro Bio in the fourth quarter valued at about $53,000. Quest Partners LLC boosted its holdings in shares of Korro Bio by 172.1% in the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after acquiring an additional 1,124 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Korro Bio by 23.2% in the fourth quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock valued at $83,000 after acquiring an additional 412 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Korro Bio by 251.0% in the third quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company’s stock valued at $95,000 after acquiring an additional 2,041 shares in the last quarter. Finally, Vestcor Inc purchased a new stake in shares of Korro Bio in the third quarter valued at about $100,000. 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).