Bank of Montreal Can Makes New $217,000 Investment in Korro Bio, Inc. (NASDAQ:KRRO)

Bank of Montreal Can purchased a new stake in Korro Bio, Inc. (NASDAQ:KRRO) in the fourth quarter, Holdings Channel reports. The firm purchased 5,710 shares of the company’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. acquired a new position in Korro Bio in the fourth quarter worth $26,870,000. Franklin Resources Inc. bought a new position in shares of Korro Bio in the 4th quarter worth about $3,493,000. State Street Corp boosted its holdings 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 valued at $3,969,000 after buying an additional 18,877 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Korro Bio during the 4th quarter valued at about $394,000. Finally, Swiss National Bank acquired a new stake in Korro Bio during the fourth quarter worth about $381,000. 13.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. HC Wainwright restated a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a research note on Thursday, March 20th. Chardan Capital assumed coverage on Korro Bio in a research report on Wednesday, April 16th. They set a “buy” rating and a $25.00 price objective for the company. Oppenheimer started coverage on Korro Bio in a research report on Friday, January 10th. They issued an “outperform” rating and a $155.00 target price on the stock. Finally, Royal Bank of Canada reduced their price target on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Korro Bio has an average rating of “Buy” and an average target price of $120.43.

Korro Bio Price Performance

Korro Bio stock opened at $17.44 on Friday. The company has a market cap of $163.74 million, a P/E ratio of -1.86 and a beta of 2.31. Korro Bio, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $98.00. The firm’s 50 day simple moving average is $19.77 and its 200-day simple moving average is $37.45.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, topping the consensus estimate of ($2.33) by $0.07. The firm had revenue of $2.27 million for the quarter. On average, analysts expect that Korro Bio, Inc. will post -9.52 EPS for the current fiscal year.

Korro Bio 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).