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

HC Wainwright restated their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a research report report published on Thursday,Benzinga reports. HC Wainwright currently has a $115.00 price target on the stock.

A number of other research firms also recently weighed in on KRRO. Oppenheimer began coverage on Korro Bio in a report on Friday, January 10th. They set an “outperform” rating and a $155.00 target price on the stock. Royal Bank of Canada reduced their target price on Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $142.57.

Korro Bio Price Performance

NASDAQ KRRO opened at $23.76 on Thursday. The business’s 50-day moving average is $29.88 and its 200 day moving average is $41.37. Korro Bio has a 1 year low of $18.50 and a 1 year high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, topping analysts’ consensus estimates 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 EPS for the current fiscal year.

Institutional Trading of Korro Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of 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 buying an additional 18,877 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Korro Bio by 374.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,391 shares of the company’s stock worth $414,000 after buying an additional 9,782 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Korro Bio in the 3rd quarter worth approximately $436,000. Rhumbline Advisers grew its stake in shares of Korro Bio by 7.8% in the 4th quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock worth $366,000 after buying an additional 691 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of Korro Bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after buying an additional 1,124 shares during the last quarter. Hedge funds and other institutional investors 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).