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

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) has earned a consensus recommendation of "Buy" from the six brokerages that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $142.17.

KRRO has been the topic of a number of recent analyst reports. Raymond James assumed coverage on Korro Bio in a report on Monday, October 21st. They set a "strong-buy" rating and a $153.00 price target on the stock. William Blair reissued an "outperform" rating on shares of Korro Bio in a report on Wednesday. HC Wainwright reaffirmed a "buy" rating and set a $115.00 price objective on shares of Korro Bio in a report on Wednesday. Finally, Royal Bank of Canada boosted their target price on shares of 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 4.3 %

Shares of KRRO stock traded down $2.14 during mid-day trading on Friday, reaching $47.56. 91,603 shares of the company's stock traded hands, compared to its average volume of 69,920. Korro Bio has a 12 month low of $30.00 and a 12 month high of $98.00. The firm has a 50 day moving average price of $49.91 and a two-hundred day moving average price of $46.94.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, beating the consensus estimate of ($2.55) by $0.29. As a group, equities analysts predict that Korro Bio will post -10.02 earnings per share for the current year.

Insider Activity

In other news, CFO Vineet Agarwal sold 10,216 shares of the business's stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. grew its position in Korro Bio by 71.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company's stock valued at $15,448,000 after acquiring an additional 190,259 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Korro Bio in the 2nd quarter worth about $3,958,000. Tri Locum Partners LP bought a new stake in Korro Bio during the 2nd quarter valued at about $2,419,000. Millennium Management LLC boosted its position in Korro Bio by 38.3% in the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company's stock valued at $2,852,000 after buying an additional 23,307 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Korro Bio in the 2nd quarter valued at about $649,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

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).