Korro Bio (NASDAQ:KRRO) Receives New Coverage from Analysts at Raymond James

Raymond James assumed coverage on shares of Korro Bio (NASDAQ:KRRO - Free Report) in a research report sent to investors on Monday, MarketBeat reports. The firm issued a strong-buy rating and a $153.00 price target on the stock.

Several other analysts have also recently weighed in on the company. HC Wainwright lifted their price target on Korro Bio from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Friday. Royal Bank of Canada reissued an "outperform" rating and set a $95.00 price target on shares of Korro Bio in a report on Thursday, September 19th. Finally, William Blair assumed coverage on Korro Bio in a report on Wednesday, August 14th. They set an "outperform" rating and a $180.00 price target for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Korro Bio has an average rating of "Buy" and an average price target of $142.17.

Korro Bio Stock Performance

Shares of NASDAQ KRRO traded down $4.18 during midday trading on Monday, hitting $75.86. 222,187 shares of the company's stock were exchanged, compared to its average volume of 63,916. Korro Bio has a 12 month low of $9.15 and a 12 month high of $98.00. The company's 50 day moving average price is $43.04 and its 200 day moving average price is $47.36.

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

Insider Buying and Selling at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 10,216 shares of Korro Bio stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total value of $799,504.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 16.80% of the company's stock.

Hedge Funds Weigh In On Korro Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new position in Korro Bio in the 2nd quarter valued at $28,000. Lynx1 Capital Management LP acquired a new position in shares of Korro Bio during the 2nd quarter worth $129,000. Rhumbline Advisers acquired a new position in shares of Korro Bio during the 2nd quarter worth $279,000. Bank of New York Mellon Corp acquired a new position in shares of Korro Bio during the 2nd quarter worth $649,000. Finally, Tri Locum Partners LP acquired a new position in shares of Korro Bio during the 2nd quarter worth $2,419,000. 13.18% of the stock is owned by institutional investors and hedge funds.

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).