Korro Bio, Inc. (NASDAQ:KRRO) Given Average Rating of "Buy" by Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) have received a consensus rating of "Buy" from the seven research firms that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $120.43.

KRRO has been the topic of several recent research reports. Chardan Capital initiated coverage on shares of Korro Bio in a report on Wednesday. They set a "buy" rating and a $25.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $115.00 price target on shares of Korro Bio in a research note on Thursday, March 20th. Oppenheimer initiated coverage on shares of Korro Bio in a report on Friday, January 10th. They issued an "outperform" rating and a $155.00 target price on the stock. Finally, Royal Bank of Canada dropped their price target on shares of Korro Bio from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday, March 19th.

Korro Bio Stock Performance

KRRO traded up $0.44 on Monday, reaching $13.90. The company had a trading volume of 84,628 shares, compared to its average volume of 93,096. Korro Bio has a 52-week low of $11.13 and a 52-week high of $98.00. The company has a market cap of $130.51 million, a price-to-earnings ratio of -1.48 and a beta of 2.31. The business has a 50 day simple moving average of $20.84 and a 200 day simple moving average of $37.93.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its earnings results 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, equities research analysts predict that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Korro Bio

A number of large investors have recently modified their holdings of KRRO. Deep Track Capital LP lifted its holdings in Korro Bio by 2.9% in the fourth quarter. Deep Track Capital LP now owns 874,614 shares of the company's stock worth $33,297,000 after buying an additional 24,614 shares during the period. Alliancebernstein L.P. purchased a new position in shares of Korro Bio in the 4th quarter valued at approximately $26,870,000. Driehaus Capital Management LLC grew its stake in Korro Bio by 220.3% in the fourth quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company's stock worth $18,841,000 after purchasing an additional 340,410 shares during the period. Point72 Asset Management L.P. lifted its position in Korro Bio by 11.0% during the fourth quarter. Point72 Asset Management L.P. now owns 493,997 shares of the company's stock valued at $18,806,000 after buying an additional 49,147 shares during the period. Finally, Tri Locum Partners LP grew its position in shares of Korro Bio by 125.3% in 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. 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).