Korro Bio's (KRRO) Buy Rating Reaffirmed at HC Wainwright

Korro Bio (NASDAQ:KRRO - Get Free Report)'s stock had its "buy" rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $115.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 119.84% from the company's previous close.

A number of other research analysts also recently issued reports on KRRO. Raymond James started coverage on shares of Korro Bio in a research report on Monday, October 21st. They issued a "strong-buy" rating and a $153.00 price target on the stock. Royal Bank of Canada upped their price target on shares of Korro Bio from $95.00 to $105.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Finally, William Blair reissued an "outperform" rating on shares of Korro Bio in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Korro Bio has a consensus rating of "Buy" and an average target price of $142.17.

Korro Bio Trading Up 3.3 %

Shares of NASDAQ KRRO traded up $1.69 during mid-day trading on Friday, hitting $52.31. 66,031 shares of the stock traded hands, compared to its average volume of 70,520. Korro Bio has a twelve month low of $30.00 and a twelve month high of $98.00. The firm has a 50 day simple moving average of $50.68 and a two-hundred day simple moving average of $46.54.

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

Insider Activity

In other Korro Bio news, CFO Vineet Agarwal sold 10,216 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Korro Bio

Large investors have recently added to or reduced their stakes in the company. Atlas Venture Life Science Advisors LLC lifted its holdings in shares of Korro Bio by 1.6% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company's stock worth $38,515,000 after buying an additional 17,857 shares in the last quarter. NEA Management Company LLC boosted its holdings in Korro Bio by 1.7% in the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company's stock valued at $36,945,000 after purchasing an additional 17,857 shares during the period. Point72 Asset Management L.P. raised its position in shares of Korro Bio by 71.6% in the second quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company's stock worth $15,448,000 after buying an additional 190,259 shares in the last quarter. State Street Corp boosted its stake 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 buying an additional 18,877 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in Korro Bio in the 2nd quarter worth about $3,958,000. Hedge funds and other institutional investors 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).