Korro Bio (NASDAQ:KRRO) Given Buy Rating at HC Wainwright

Korro Bio (NASDAQ:KRRO - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $115.00 target price on the stock. HC Wainwright's price objective would suggest a potential upside of 378.57% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Oppenheimer initiated 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. Royal Bank of Canada lowered their price objective on shares of Korro Bio from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 19th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $142.57.

Korro Bio Trading Up 1.1 %

Shares of KRRO traded up $0.27 during mid-day trading on Thursday, reaching $24.03. 64,035 shares of the stock traded hands, compared to its average volume of 87,745. The company has a market cap of $225.62 million, a price-to-earnings ratio of -2.56 and a beta of 2.13. Korro Bio has a 1 year low of $18.50 and a 1 year high of $98.00. The firm has a fifty day moving average price of $29.60 and a 200 day moving average price of $41.23.

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Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its earnings results on Tuesday, March 18th. The company reported ($2.26) EPS for the quarter, topping the consensus estimate of ($2.33) by $0.07. The business had revenue of $2.27 million for the quarter. On average, sell-side analysts anticipate that Korro Bio will post -9.52 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

Several institutional investors and hedge funds have recently made changes to their positions in KRRO. Deep Track Capital LP boosted its position in Korro Bio by 2.9% during the fourth quarter. Deep Track Capital LP now owns 874,614 shares of the company's stock valued at $33,297,000 after buying an additional 24,614 shares during the period. Alliancebernstein L.P. purchased a new stake in Korro Bio during the 4th quarter valued at about $26,870,000. Driehaus Capital Management LLC grew its position in Korro Bio by 220.3% during the 4th quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company's stock worth $18,841,000 after acquiring an additional 340,410 shares during the last quarter. Point72 Asset Management L.P. grew its position in Korro Bio by 11.0% during the 4th quarter. Point72 Asset Management L.P. now owns 493,997 shares of the company's stock worth $18,806,000 after acquiring an additional 49,147 shares during the last quarter. Finally, Tri Locum Partners LP increased its stake in Korro Bio by 125.3% in the 4th quarter. Tri Locum Partners LP now owns 144,216 shares of the company's stock worth $5,490,000 after purchasing an additional 80,202 shares during the period. Institutional investors own 13.18% of the company's stock.

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).