Analysts Set Korro Bio, Inc. (NASDAQ:KRRO) Price Target at $142.57

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. Five 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 $136.33.

Several research analysts have issued reports on KRRO shares. Royal Bank of Canada cut their price objective on Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, March 19th. Oppenheimer initiated coverage on shares of Korro Bio in a report on Friday, January 10th. They issued an “outperform” rating and a $155.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and set a $115.00 price objective on shares of Korro Bio in a report on Thursday, March 20th.

Institutional Investors Weigh In On Korro Bio

Several institutional investors and hedge funds have recently made changes to their positions in KRRO. AlphaQuest LLC increased its holdings in Korro Bio by 23.2% during the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock valued at $83,000 after acquiring an additional 412 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Korro Bio by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company’s stock valued at $563,000 after purchasing an additional 435 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Korro Bio by 9.0% during the 4th quarter. Bank of America Corp DE now owns 7,037 shares of the company’s stock worth $268,000 after purchasing an additional 581 shares in the last quarter. Rhumbline Advisers raised its position in shares of Korro Bio by 7.8% during the 4th quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock worth $366,000 after purchasing an additional 691 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of Korro Bio by 5.7% during the 4th quarter. Blair William & Co. IL now owns 12,895 shares of the company’s stock worth $491,000 after purchasing an additional 695 shares during the last quarter. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Korro Bio Stock Down 12.9 %

Shares of NASDAQ:KRRO opened at $17.76 on Thursday. The company has a market cap of $166.75 million, a price-to-earnings ratio of -1.89 and a beta of 2.13. Korro Bio has a fifty-two week low of $17.14 and a fifty-two week high of $98.00. The firm’s 50-day simple moving average is $28.87 and its 200-day simple moving average is $40.93.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.33) by $0.07. The business had revenue of $2.27 million during the quarter. On average, research analysts forecast that Korro Bio will post -9.52 EPS for the current year.

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).