Korro Bio (NASDAQ:KRRO) Earns Outperform Rating from Royal Bank of Canada

Korro Bio (NASDAQ:KRRO)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a report issued on Thursday, Benzinga reports. They presently have a $95.00 price objective on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 161.49% from the company’s current price.

A number of other brokerages also recently weighed in on KRRO. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of Korro Bio in a report on Tuesday. William Blair started coverage on shares of Korro Bio in a report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $135.00.

Korro Bio Stock Performance

Shares of NASDAQ:KRRO opened at $36.33 on Thursday. The company’s 50 day moving average price is $43.48 and its two-hundred day moving average price is $51.22. Korro Bio has a 12-month low of $9.15 and a 12-month high of $97.91.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). As a group, sell-side analysts forecast that Korro Bio will post -10.29 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. acquired a new position in Korro Bio in the 2nd quarter valued at approximately $28,000. Lynx1 Capital Management LP acquired a new position in Korro Bio in the 2nd quarter valued at approximately $129,000. Rhumbline Advisers acquired a new position in Korro Bio in the 2nd quarter valued at approximately $279,000. Bank of New York Mellon Corp acquired a new position in Korro Bio in the 2nd quarter valued at approximately $649,000. Finally, Tri Locum Partners LP acquired a new position in Korro Bio in the 2nd quarter valued at approximately $2,419,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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).