Korro Bio (NASDAQ:KRRO) Releases Earnings Results, Beats Expectations By $0.29 EPS

Korro Bio (NASDAQ:KRRO) issued its quarterly earnings data on Tuesday. The company reported ($2.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.55) by $0.29, Zacks reports.

Korro Bio Stock Performance

KRRO stock opened at $55.01 on Thursday. Korro Bio has a 1-year low of $30.00 and a 1-year high of $98.00. The business has a 50 day simple moving average of $49.77 and a two-hundred day simple moving average of $46.92.

Insider Transactions at Korro Bio

In related news, CFO Vineet Agarwal sold 10,216 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total transaction of $799,504.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on KRRO. HC Wainwright reissued a “buy” rating and set a $115.00 price target on shares of Korro Bio in a report on Wednesday. Royal Bank of Canada increased their target price on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Raymond James assumed coverage on shares of Korro Bio in a research note on Monday, October 21st. They set a “strong-buy” rating and a $153.00 target price on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Korro Bio in a research report on Wednesday. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $142.17.

Korro Bio Company Profile

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).