Korro Bio, Inc. (NASDAQ:KRRO) Receives $138.00 Consensus Target Price from Analysts

Shares of Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) have been given a consensus rating of "Buy" by the six ratings firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $142.17.

KRRO has been the topic of several research reports. Royal Bank of Canada boosted their price target on Korro Bio from $95.00 to $105.00 and gave the stock an "outperform" rating in a report on Monday. William Blair started coverage on Korro Bio in a research note on Wednesday, August 14th. They issued an "outperform" rating and a $180.00 price target on the stock. Raymond James began coverage on Korro Bio in a research note on Monday. They issued a "strong-buy" rating and a $153.00 price target on the stock. Finally, HC Wainwright upped their target price on Korro Bio from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday.

Insiders Place Their Bets

In other news, CFO Vineet Agarwal sold 10,216 shares of the business's stock in a transaction that occurred 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 legal filing with the SEC, which is available through the SEC website. Insiders own 16.80% of the company's stock.

Institutional Investors Weigh In On Korro Bio

A number of institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its stake 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 acquiring an additional 190,259 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Korro Bio during the second quarter valued at $3,958,000. Lynx1 Capital Management LP purchased a new stake in shares of Korro Bio during the second quarter valued at $129,000. Millennium Management LLC boosted its position in shares of Korro Bio by 38.3% during the second quarter. Millennium Management LLC now owns 84,201 shares of the company's stock valued at $2,852,000 after buying an additional 23,307 shares during the last quarter. Finally, NEA Management Company LLC boosted its position in shares of Korro Bio by 1.7% during the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company's stock valued at $36,945,000 after buying an additional 17,857 shares during the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.

Korro Bio Price Performance

Shares of NASDAQ:KRRO traded down $4.18 during midday trading on Monday, hitting $75.86. The stock had a trading volume of 222,237 shares, compared to its average volume of 63,916. The business's 50-day simple moving average is $42.25 and its 200-day simple moving average is $47.33. Korro Bio has a 12 month low of $9.15 and a 12 month high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last posted 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). On average, research analysts expect that Korro Bio will post -10.09 EPS for the current fiscal year.

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).