Royal Bank of Canada Raises Korro Bio (NASDAQ:KRRO) Price Target to $105.00

Korro Bio (NASDAQ:KRRO - Free Report) had its price objective raised by Royal Bank of Canada from $95.00 to $105.00 in a report released on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research analysts also recently commented on the stock. William Blair initiated coverage on shares of Korro Bio in a research report on Wednesday, August 14th. They issued an "outperform" rating and a $180.00 price objective for the company. Raymond James initiated coverage on Korro Bio in a report on Monday. They set a "strong-buy" rating and a $153.00 target price on the stock. Finally, HC Wainwright boosted their target price on Korro Bio from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Friday. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Korro Bio currently has a consensus rating of "Buy" and an average price target of $142.17.

Korro Bio Trading Down 5.2 %

Shares of NASDAQ:KRRO traded down $4.18 during midday trading on Monday, reaching $75.86. 222,187 shares of the company were exchanged, compared to its average volume of 63,916. Korro Bio has a fifty-two week low of $9.15 and a fifty-two week high of $98.00. The stock has a fifty day simple moving average of $43.04 and a two-hundred day simple moving average of $47.36.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing analysts' consensus estimates of ($2.39) by ($0.04). As a group, research analysts forecast that Korro Bio will post -10.09 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vineet Agarwal sold 10,216 shares of the company's 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 16.80% of the company's stock.

Institutional Trading of Korro Bio

Several institutional investors and hedge funds have recently modified their holdings of KRRO. Brown Brothers Harriman & Co. bought a new stake in shares of Korro Bio during the 2nd quarter worth $28,000. Lynx1 Capital Management LP bought a new stake in shares of Korro Bio during the 2nd quarter worth $129,000. Rhumbline Advisers bought a new stake in shares of Korro Bio during the 2nd quarter worth $279,000. Bank of New York Mellon Corp bought a new stake in shares of Korro Bio during the 2nd quarter worth $649,000. Finally, Tri Locum Partners LP bought a new position in Korro Bio in the second quarter valued at about $2,419,000. 13.18% of the stock is currently owned by 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).