Korro Bio, Inc. (NASDAQ:KRRO - Free Report) - Equities researchers at William Blair boosted their FY2024 earnings estimates for shares of Korro Bio in a research report issued on Wednesday, November 13th. William Blair analyst M. Minter now expects that the company will earn ($9.80) per share for the year, up from their prior estimate of ($10.56). William Blair has a "Outperform" rating on the stock. The consensus estimate for Korro Bio's current full-year earnings is ($9.63) per share. William Blair also issued estimates for Korro Bio's Q4 2024 earnings at ($2.68) EPS, Q1 2025 earnings at ($2.79) EPS, Q2 2025 earnings at ($2.89) EPS, Q3 2025 earnings at ($2.93) EPS, Q4 2025 earnings at ($2.99) EPS, FY2025 earnings at ($11.60) EPS, FY2026 earnings at ($12.56) EPS, FY2027 earnings at ($13.59) EPS and FY2028 earnings at ($12.97) EPS.
Other research analysts also recently issued reports about the stock. Royal Bank of Canada increased their price objective on shares of Korro Bio from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Raymond James started coverage on Korro Bio in a research note on Monday, October 21st. They issued a "strong-buy" rating and a $153.00 price target for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $115.00 target price on shares of Korro Bio in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $142.17.
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Korro Bio Stock Performance
Shares of Korro Bio stock traded down $0.93 on Monday, hitting $46.63. 129,616 shares of the company's stock traded hands, compared to its average volume of 70,188. Korro Bio has a 52-week low of $30.00 and a 52-week high of $98.00. The firm's 50-day moving average is $50.05 and its 200 day moving average is $46.68.
Korro Bio (NASDAQ:KRRO - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, beating the consensus estimate of ($2.55) by $0.29.
Institutional Investors Weigh In On Korro Bio
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. lifted its stake in shares of Korro Bio by 71.6% in the 2nd 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 period. Driehaus Capital Management LLC acquired a new stake in Korro Bio in the second quarter worth approximately $3,958,000. Tri Locum Partners LP acquired a new position in shares of Korro Bio during the 2nd quarter valued at $2,419,000. Millennium Management LLC raised its stake in shares of Korro Bio by 38.3% in the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company's stock worth $2,852,000 after buying an additional 23,307 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Korro Bio in the second quarter valued at $649,000. 13.18% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Korro Bio
In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction on Monday, November 11th. The stock was sold at an average price of $70.00, for a total transaction of $56,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 5.40% of the stock is owned by company insiders.
About Korro Bio
(
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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).
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