Korro Bio (NASDAQ:KRRO) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Korro Bio (NASDAQ:KRRO - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($2.26) earnings per share for the quarter, beating analysts' consensus estimates of ($2.33) by $0.07, Zacks reports. The company had revenue of $2.27 million during the quarter.

Korro Bio Stock Performance

Korro Bio stock traded up $1.86 during midday trading on Friday, hitting $23.76. 105,877 shares of the stock were exchanged, compared to its average volume of 87,749. Korro Bio has a 1 year low of $18.50 and a 1 year high of $98.00. The company has a 50 day moving average price of $29.88 and a two-hundred day moving average price of $41.39.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on KRRO shares. HC Wainwright reissued a "buy" rating and issued a $115.00 target price on shares of Korro Bio in a research note on Thursday. Royal Bank of Canada cut their target price on shares of Korro Bio from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Oppenheimer started coverage on shares of Korro Bio in a research note on Friday, January 10th. They issued an "outperform" rating and a $155.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $142.57.

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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).