Korro Bio (NASDAQ:KRRO) Stock Keeps “Buy” Rating at HC Wainwright

Korro Bio (NASDAQ:KRRO)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report issued on Tuesday, Marketbeat.com reports. They currently have a $15.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 48.44% from the stock’s previous close.

KRRO has been the subject of a number of other reports. Wall Street Zen raised Korro Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Korro Bio Trading Up 3.5%

Shares of NASDAQ:KRRO traded up $0.35 during midday trading on Tuesday, hitting $10.11. The company had a trading volume of 17,262 shares, compared to its average volume of 189,849. Korro Bio has a 12 month low of $5.20 and a 12 month high of $55.89. The firm has a fifty day simple moving average of $11.93 and a 200 day simple moving average of $12.21. The stock has a market cap of $148.85 million, a price-to-earnings ratio of -1.01 and a beta of 3.13.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.07) EPS for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.27. Equities analysts forecast that Korro Bio will post -4.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Korro Bio news, major shareholder Lynx1 Capital Management Lp acquired 5,222 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average price of $11.40 per share, for a total transaction of $59,530.80. Following the acquisition, the insider directly owned 1,543,518 shares of the company’s stock, valued at approximately $17,596,105.20. This trade represents a 0.34% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Oliver Dolan sold 7,347 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $13.51, for a total value of $99,257.97. Following the completion of the transaction, the senior vice president owned 16,252 shares of the company’s stock, valued at $219,564.52. This represents a 31.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 38,269 shares of company stock worth $532,064 over the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Korro Bio

Several large investors have recently made changes to their positions in KRRO. Hsbc Holdings PLC bought a new stake in Korro Bio in the 2nd quarter valued at $233,000. Nantahala Capital Management LLC acquired a new position in Korro Bio in the 2nd quarter worth $8,699,274. Bank of America Corp DE bought a new position in Korro Bio during the 2nd quarter worth about $681,000. ADAR1 Capital Management LLC bought a new position in Korro Bio during the 2nd quarter worth about $7,118,000. Finally, Ieq Capital LLC acquired a new stake in shares of Korro Bio in the 2nd quarter valued at about $280,000. Institutional investors own 13.18% of the company’s stock.

Korro Bio Company Profile

Korro Bio, Inc is a biotechnology company developing RNA editing medicines for the treatment of genetic diseases. The company’s approach is designed to make targeted changes to messenger RNA (mRNA), potentially correcting disease-causing mutations without permanently altering a patient’s DNA.

Korro Bio’s technology platform, known as Oligonucleotide Promoted Editing of RNA, or OPERA, uses engineered oligonucleotides to guide naturally occurring cellular RNA-editing processes. The platform is intended to support the development of medicines for diseases involving the liver and other tissues.

The company’s lead clinical program, KRRO-110, is being developed for alpha-1 antitrypsin deficiency, an inherited disorder caused by mutations in the SERPINA1 gene.