Korro Bio (NASDAQ:KRRO) Given “Buy” Rating at Chardan Capital

Korro Bio (NASDAQ:KRRO)‘s stock had its “buy” rating reaffirmed by equities research analysts at Chardan Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $25.00 target price on the stock. Chardan Capital’s price objective points to a potential upside of 25.75% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Korro Bio to a “strong-buy” rating in a research report on Tuesday, April 29th. Oppenheimer cut their price target on shares of Korro Bio from $155.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. HC Wainwright cut their price target on shares of Korro Bio from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Raymond James Financial cut their price target on shares of Korro Bio from $153.00 to $147.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Korro Bio has a consensus rating of “Buy” and an average price target of $86.83.

Korro Bio Trading Up 5.0%

Korro Bio stock opened at $19.88 on Wednesday. Korro Bio has a 1 year low of $10.29 and a 1 year high of $98.00. The company has a market cap of $186.67 million, a PE ratio of -2.04 and a beta of 2.51. The company’s 50-day moving average is $14.20 and its two-hundred day moving average is $18.23.

Korro Bio (NASDAQ:KRRO) last released its earnings results on Tuesday, August 12th. The company reported ($2.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.54) by ($0.20). The business had revenue of $1.46 million for the quarter, compared to the consensus estimate of $0.41 million. Research analysts forecast that Korro Bio will post -9.52 EPS for the current year.

Institutional Trading of Korro Bio

Several hedge funds have recently bought and sold shares of KRRO. Cormorant Asset Management LP acquired a new stake in Korro Bio during the 1st quarter worth approximately $6,621,000. Driehaus Capital Management LLC raised its holdings in Korro Bio by 220.3% during the 4th quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company’s stock worth $18,841,000 after buying an additional 340,410 shares during the period. Woodline Partners LP acquired a new stake in Korro Bio during the 4th quarter worth approximately $3,887,000. Aberdeen Group plc acquired a new stake in Korro Bio during the 1st quarter worth approximately $1,470,000. Finally, Tri Locum Partners LP raised its holdings in Korro Bio by 125.3% during the 4th quarter. Tri Locum Partners LP now owns 144,216 shares of the company’s stock worth $5,490,000 after buying an additional 80,202 shares during the period. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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).