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

Shares of Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) have been assigned a consensus rating of "Buy" from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $142.17.

A number of research analysts recently commented on the stock. HC Wainwright reiterated a "buy" rating and set a $115.00 price objective on shares of Korro Bio in a research note on Friday, November 22nd. Raymond James started coverage on Korro Bio in a research report on Monday, October 21st. They set a "strong-buy" rating and a $153.00 price target on the stock. William Blair restated an "outperform" rating on shares of Korro Bio in a report on Wednesday, November 13th. Finally, Royal Bank of Canada lifted 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.

Korro Bio Trading Down 1.6 %

Shares of NASDAQ:KRRO traded down $0.74 on Tuesday, hitting $46.75. The company's stock had a trading volume of 169,702 shares, compared to its average volume of 73,513. Korro Bio has a 12 month low of $30.00 and a 12 month high of $98.00. The stock's 50-day moving average is $53.69 and its two-hundred day moving average is $46.19.

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, beating analysts' consensus estimates of ($2.55) by $0.29. Equities analysts predict that Korro Bio will post -9.63 earnings per share for the current year.

Insider Transactions at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of Korro Bio stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total value of $799,504.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Korro Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRRO. Vestcor Inc purchased a new stake in Korro Bio in the 3rd quarter worth about $100,000. Wellington Management Group LLP acquired a new stake in shares of Korro Bio during the third quarter worth approximately $436,000. State Street Corp grew its position in Korro Bio by 18.9% during the third quarter. State Street Corp now owns 118,765 shares of the company's stock valued at $3,969,000 after purchasing an additional 18,877 shares in the last quarter. MetLife Investment Management LLC increased its stake in Korro Bio by 129.0% in the 3rd 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. Finally, BNP Paribas Financial Markets lifted its position in Korro Bio by 1,018.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company's stock worth $164,000 after buying an additional 4,470 shares in the last quarter. Institutional investors and hedge funds 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).