Korro Bio, Inc. (NASDAQ:KRRO) Receives Average Recommendation of "Buy" from Analysts

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) has received an average recommendation of "Buy" from the six analysts that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $142.17.

Several brokerages have recently commented on KRRO. Royal Bank of Canada boosted their target price on Korro Bio from $95.00 to $105.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Raymond James started coverage on Korro Bio in a research note on Monday, October 21st. They issued a "strong-buy" rating and a $153.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $115.00 price target on shares of Korro Bio in a report on Friday, November 22nd. Finally, William Blair reissued an "outperform" rating on shares of Korro Bio in a report on Wednesday, November 13th.

Insider Activity

In related news, CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Korro Bio

Several hedge funds have recently bought and sold shares of KRRO. Brown Brothers Harriman & Co. acquired a new position in shares of Korro Bio in the 2nd quarter valued at approximately $28,000. Quest Partners LLC lifted its stake in Korro Bio by 172.1% in the third quarter. Quest Partners LLC now owns 1,777 shares of the company's stock valued at $59,000 after buying an additional 1,124 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Korro Bio by 129.0% in the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company's stock valued at $122,000 after buying an additional 2,050 shares during the period. Vestcor Inc bought a new stake in shares of Korro Bio during the third quarter worth $100,000. Finally, Lynx1 Capital Management LP bought a new stake in shares of Korro Bio during the second quarter worth $129,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Korro Bio Stock Performance

Korro Bio stock traded up $1.82 during mid-day trading on Friday, hitting $42.84. 137,102 shares of the company were exchanged, compared to its average volume of 131,001. The business has a fifty day moving average of $50.61 and a 200 day moving average of $45.81. Korro Bio has a 1-year low of $30.00 and a 1-year high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.55) by $0.29. As a group, analysts anticipate that Korro Bio will post -9.63 EPS for the current fiscal year.

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).