William Blair Reiterates "Outperform" Rating for Korro Bio (NASDAQ:KRRO)

Korro Bio (NASDAQ:KRRO - Get Free Report)'s stock had its "outperform" rating reissued by investment analysts at William Blair in a research report issued on Wednesday,RTT News reports.

A number of other brokerages have also issued reports on KRRO. HC Wainwright boosted their price target on shares of Korro Bio from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Royal Bank of Canada upped their target price on shares of Korro Bio from $95.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Finally, Raymond James assumed coverage on shares of Korro Bio in a research note on Monday, October 21st. They set a "strong-buy" rating and a $153.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $142.17.

Korro Bio Price Performance

Shares of NASDAQ:KRRO traded down $10.13 during trading on Wednesday, hitting $55.01. 319,412 shares of the stock traded hands, compared to its average volume of 69,626. The company has a fifty day moving average price of $49.52 and a two-hundred day moving average price of $46.86. Korro Bio has a 52-week low of $30.00 and a 52-week high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly 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. Equities research analysts forecast that Korro Bio will post -10.02 EPS for the current year.

Insider Buying and Selling at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 10,216 shares of the 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 sale was disclosed in a document filed with the SEC, which is available through this link. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Korro Bio

A number of institutional investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. purchased a new stake in Korro Bio in the 2nd quarter valued at $28,000. Quest Partners LLC raised its position in Korro Bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company's stock valued at $59,000 after purchasing an additional 1,124 shares during the last quarter. Lynx1 Capital Management LP purchased a new stake in Korro Bio in the 2nd quarter valued at $129,000. Rhumbline Advisers purchased a new stake in Korro Bio in the 2nd quarter valued at $279,000. Finally, Bank of New York Mellon Corp purchased a new stake in Korro Bio in the 2nd quarter valued at $649,000. 13.18% of the stock is owned by institutional investors and hedge funds.

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).