Royal Bank of Canada Cuts Korro Bio (NASDAQ:KRRO) Price Target to $95.00

Korro Bio (NASDAQ:KRRO) had its price target decreased by investment analysts at Royal Bank of Canada from $105.00 to $95.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 139.54% from the company’s previous close.

Several other research firms also recently commented on KRRO. BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Korro Bio in a research note on Wednesday, May 15th. William Blair assumed coverage on Korro Bio in a research note on Wednesday. They set an “outperform” rating and a $180.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of Korro Bio in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $135.00.

Korro Bio Trading Up 9.1 %

Shares of NASDAQ:KRRO traded up $3.30 on Wednesday, hitting $39.66. 31,187 shares of the company’s stock were exchanged, compared to its average volume of 50,027. The firm’s 50-day moving average is $41.30 and its 200 day moving average is $53.21. Korro Bio has a 1-year low of $9.15 and a 1-year high of $97.91.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.04). As a group, analysts anticipate that Korro Bio will post -9.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Korro Bio

Several hedge funds have recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new stake in shares of Korro Bio during the second quarter worth $28,000. Atlas Venture Life Science Advisors LLC boosted its holdings in shares of Korro Bio by 1.6% during the second 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. Rhumbline Advisers acquired a new stake in shares of Korro Bio during the second quarter worth $279,000. Bank of New York Mellon Corp acquired a new stake in shares of Korro Bio during the second quarter worth $649,000. Finally, Eventide Asset Management LLC acquired a new stake in shares of Korro Bio during the fourth quarter worth $26,185,000. 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).