Korro Bio (NASDAQ:KRRO) Earns Buy Rating from HC Wainwright

Korro Bio (NASDAQ:KRRO)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $115.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 131.39% from the company’s current price.

KRRO has been the subject of several other reports. Raymond James began coverage on shares of Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price for the company. Royal Bank of Canada upped their price target on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $142.17.

Korro Bio Stock Down 9.7 %

NASDAQ:KRRO opened at $49.70 on Wednesday. Korro Bio has a 52-week low of $30.00 and a 52-week high of $98.00. The business’s 50-day moving average price is $49.77 and its 200 day moving average price is $46.92.

Korro Bio (NASDAQ:KRRO) last released its earnings results on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. On average, equities analysts expect that Korro Bio will post -10.02 EPS for the current fiscal year.

Insider Activity at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total value of $799,504.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Atlas Venture Life Science Advisors LLC lifted its position in shares of Korro Bio by 1.6% during the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock worth $38,515,000 after purchasing an additional 17,857 shares during the last quarter. NEA Management Company LLC increased its position in Korro Bio by 1.7% in the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock worth $36,945,000 after buying an additional 17,857 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Korro Bio by 71.6% during the second quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock worth $15,448,000 after buying an additional 190,259 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Korro Bio in the second quarter valued at approximately $3,958,000. Finally, Millennium Management LLC increased its position in Korro Bio by 38.3% during the second quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock worth $2,852,000 after acquiring an additional 23,307 shares during the period. Institutional investors and hedge funds own 13.18% of the company’s stock.

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).