Korro Bio (NASDAQ:KRRO) Announces Quarterly Earnings Results, Beats Estimates By $0.29 EPS

Korro Bio (NASDAQ:KRRO) released its quarterly earnings results on Tuesday. The company reported ($2.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29, Zacks reports.

Korro Bio Stock Performance

Shares of KRRO traded up $0.23 during trading hours on Thursday, hitting $55.24. 10,362 shares of the company were exchanged, compared to its average volume of 69,368. The firm has a fifty day simple moving average of $49.77 and a 200-day simple moving average of $46.92. Korro Bio has a one year low of $30.00 and a one year high of $98.00.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. William Blair restated an “outperform” rating on shares of Korro Bio in a research note on Wednesday. Royal Bank of Canada raised their price target on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price target on shares of Korro Bio in a report on Wednesday. Finally, Raymond James started coverage on shares of Korro Bio in a report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $142.17.

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 transaction of $56,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.40% of the company’s stock.

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).