Analysts Set Korro Bio, Inc. (NASDAQ:KRRO) Price Target at $142.57

Korro Bio, Inc. (NASDAQ:KRRO) has received an average recommendation of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $142.57.

KRRO has been the topic of several analyst reports. Royal Bank of Canada cut their target price on Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Korro Bio in a research report on Thursday. Finally, Oppenheimer initiated coverage on Korro Bio in a research report on Friday, January 10th. They set an “outperform” rating and a $155.00 target price on the stock.

Korro Bio Price Performance

Shares of Korro Bio stock opened at $23.76 on Thursday. Korro Bio has a 52 week low of $18.50 and a 52 week high of $98.00. The stock has a 50 day moving average price of $29.88 and a two-hundred day moving average price of $41.37.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Korro Bio by 18.9% in the third quarter. State Street Corp now owns 118,765 shares of the company’s stock valued at $3,969,000 after buying an additional 18,877 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Korro Bio by 374.9% in the third quarter. JPMorgan Chase & Co. now owns 12,391 shares of the company’s stock valued at $414,000 after buying an additional 9,782 shares during the period. Wellington Management Group LLP bought a new stake in shares of Korro Bio in the third quarter valued at $436,000. Rhumbline Advisers raised its stake in shares of Korro Bio by 7.8% in the fourth quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock valued at $366,000 after buying an additional 691 shares during the period. Finally, Quest Partners LLC raised its stake 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 buying an additional 1,124 shares during the period. Hedge funds and other institutional investors own 13.18% of the company’s stock.

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).