Brokerages Set Korro Bio, Inc. (NASDAQ:KRRO) PT at $142.57

Shares of Korro Bio, Inc. (NASDAQ:KRRO) have earned a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $142.57.

Several research firms have weighed in on KRRO. Oppenheimer initiated coverage on Korro Bio in a research report on Friday, January 10th. They issued an “outperform” rating and a $155.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $115.00 price objective on shares of Korro Bio in a report on Thursday, March 20th. Finally, Royal Bank of Canada cut their target price on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th.

Korro Bio Stock Performance

Korro Bio stock opened at $24.03 on Thursday. The company has a market capitalization of $225.62 million, a PE ratio of -2.56 and a beta of 2.13. Korro Bio has a fifty-two week low of $18.50 and a fifty-two week high of $98.00. The firm has a 50 day moving average price of $29.60 and a 200 day moving average price of $41.23.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.33) by $0.07. The firm had revenue of $2.27 million during the quarter. As a group, equities research analysts forecast that Korro Bio will post -9.52 earnings per share for the current year.

Institutional Trading of Korro Bio

A number of large investors have recently made changes to their positions in KRRO. Deep Track Capital LP grew its holdings in Korro Bio by 2.9% during the 4th quarter. Deep Track Capital LP now owns 874,614 shares of the company’s stock worth $33,297,000 after acquiring an additional 24,614 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Korro Bio during the 4th quarter worth $26,870,000. Driehaus Capital Management LLC grew its stake in shares of Korro Bio by 220.3% during the fourth quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company’s stock worth $18,841,000 after purchasing an additional 340,410 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Korro Bio by 11.0% in the fourth quarter. Point72 Asset Management L.P. now owns 493,997 shares of the company’s stock valued at $18,806,000 after buying an additional 49,147 shares during the last quarter. Finally, Tri Locum Partners LP raised its stake in Korro Bio by 125.3% in the fourth quarter. Tri Locum Partners LP now owns 144,216 shares of the company’s stock valued at $5,490,000 after buying an additional 80,202 shares in the last quarter. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Korro Bio Company Profile

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).