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

Korro Bio (NASDAQ:KRRO)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $115.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 90.46% from the stock’s current price.

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

Korro Bio Price Performance

Shares of NASDAQ KRRO traded down $4.76 during trading hours on Wednesday, hitting $60.38. 219,453 shares of the stock were exchanged, compared to its average volume of 69,172. Korro Bio has a one year low of $30.00 and a one year high of $98.00. The company’s 50 day moving average is $49.52 and its 200 day moving average is $46.86.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.55) by $0.29. On average, sell-side analysts predict that Korro Bio will post -10.02 EPS for the current year.

Insider Activity

In other news, CFO Vineet Agarwal sold 10,216 shares of Korro Bio stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total value of $799,504.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of Korro Bio

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of Korro Bio in the second quarter valued at about $649,000. Rhumbline Advisers bought a new position in shares of Korro Bio in the second quarter valued at about $279,000. Atlas Venture Life Science Advisors LLC raised its position in shares of Korro Bio by 1.6% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock valued at $38,515,000 after purchasing an additional 17,857 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of Korro Bio in the second quarter valued at about $28,000. Finally, Tri Locum Partners LP bought a new position in shares of Korro Bio in the second quarter valued at about $2,419,000. 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).