Korro Bio (NASDAQ:KRRO) Given Buy Rating at HC Wainwright

Korro Bio (NASDAQ:KRRO)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $115.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 127.18% from the stock’s previous close.

A number of other brokerages have also recently issued reports on KRRO. Raymond James started coverage on Korro Bio in a research note on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their price objective on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $142.17.

Korro Bio Price Performance

KRRO stock opened at $50.62 on Friday. The firm has a 50 day simple moving average of $50.68 and a two-hundred day simple moving average of $46.54. Korro Bio has a one year low of $30.00 and a one year high of $98.00.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, beating the consensus estimate of ($2.55) by $0.29. As a group, sell-side analysts expect that Korro Bio will post -9.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vineet Agarwal sold 800 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $70.00, for a total value of $56,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Korro Bio

Hedge funds have recently modified their holdings of the business. Vestcor Inc bought a new stake in shares of Korro Bio in the 3rd quarter worth approximately $100,000. Wellington Management Group LLP bought a new stake in Korro Bio in the third quarter worth $436,000. State Street Corp grew its stake in shares of Korro Bio by 18.9% in the third quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after acquiring an additional 18,877 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Korro Bio by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after acquiring an additional 2,050 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Korro Bio by 1,018.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock worth $164,000 after purchasing an additional 4,470 shares during the last quarter. Institutional investors 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).