Royal Bank of Canada Cuts Korro Bio (NASDAQ:KRRO) Price Target to $95.00

Korro Bio (NASDAQ:KRRO - Get Free Report) had its price objective reduced by analysts at Royal Bank of Canada from $105.00 to $95.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's price objective would indicate a potential upside of 299.83% from the stock's current price.

Other research analysts also recently issued reports about the company. Oppenheimer began coverage on Korro Bio in a research note on Friday, January 10th. They set an "outperform" rating and a $155.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $115.00 target price on shares of Korro Bio in a research note on Friday, November 22nd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $142.57.

Korro Bio Trading Up 8.5 %

Korro Bio stock traded up $1.86 during mid-day trading on Wednesday, hitting $23.76. The company had a trading volume of 105,877 shares, compared to its average volume of 87,840. Korro Bio has a 12-month low of $18.50 and a 12-month high of $98.00. The company's fifty day moving average is $29.88 and its 200-day moving average is $41.37.

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

Institutional Trading of Korro Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new stake in shares of Korro Bio in the 4th quarter worth $53,000. Quest Partners LLC increased its stake in shares of Korro Bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company's stock worth $59,000 after acquiring an additional 1,124 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Korro Bio by 23.2% in the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company's stock worth $83,000 after acquiring an additional 412 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Korro Bio by 251.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company's stock worth $95,000 after acquiring an additional 2,041 shares during the last quarter. Finally, Vestcor Inc acquired a new stake in shares of Korro Bio in the 3rd quarter worth $100,000. 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).