Korro Bio FY2024 EPS Forecast Increased by HC Wainwright

Korro Bio, Inc. (NASDAQ:KRRO - Free Report) - Investment analysts at HC Wainwright lifted their FY2024 earnings per share (EPS) estimates for shares of Korro Bio in a report issued on Wednesday, November 13th. HC Wainwright analyst M. Kapoor now expects that the company will earn ($9.49) per share for the year, up from their prior forecast of ($9.72). HC Wainwright currently has a "Buy" rating and a $115.00 target price on the stock. The consensus estimate for Korro Bio's current full-year earnings is ($9.63) per share. HC Wainwright also issued estimates for Korro Bio's Q4 2024 earnings at ($2.38) EPS, Q1 2025 earnings at ($2.45) EPS, Q3 2025 earnings at ($2.58) EPS, Q4 2025 earnings at ($2.64) EPS and FY2025 earnings at ($10.19) EPS.

Other analysts also recently issued reports about the stock. Raymond James assumed coverage on shares of Korro Bio in a research report on Monday, October 21st. They issued a "strong-buy" rating and a $153.00 target price for the company. William Blair reissued an "outperform" rating on shares of Korro Bio in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their price target on Korro Bio from $95.00 to $105.00 and gave the stock an "outperform" rating in a research report on Monday, October 21st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $142.17.

Korro Bio Stock Down 2.0 %

Shares of Korro Bio stock traded down $0.93 during trading on Monday, hitting $46.63. 129,616 shares of the stock traded hands, compared to its average volume of 70,188. The company has a fifty day moving average price of $50.05 and a two-hundred day moving average price of $46.68. Korro Bio has a twelve month low of $30.00 and a twelve month high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, topping analysts' consensus estimates of ($2.55) by $0.29.

Insider Transactions at Korro Bio

In related news, CFO Vineet Agarwal sold 10,216 shares of the company's stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total transaction of $799,504.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Atlas Venture Life Science Advisors LLC increased its stake in Korro Bio by 1.6% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company's stock valued at $38,515,000 after acquiring an additional 17,857 shares during the period. NEA Management Company LLC raised its stake in shares of Korro Bio by 1.7% in the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company's stock valued at $36,945,000 after purchasing an additional 17,857 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Korro Bio by 71.6% in the second quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company's stock worth $15,448,000 after purchasing an additional 190,259 shares during the period. State Street Corp boosted its stake in Korro Bio by 18.9% during the third 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 in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Korro Bio in the 2nd quarter valued at $3,958,000. 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).