Korro Bio (NASDAQ:KRRO) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $115.00 target price on the stock.

A number of other brokerages have also recently weighed in on KRRO. Royal Bank of Canada boosted their price objective on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Raymond James began coverage on shares of Korro Bio in a research note on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $142.17.

Korro Bio Stock Performance

Shares of Korro Bio stock opened at $47.56 on Wednesday. The business has a 50-day moving average price of $50.05 and a 200 day moving average price of $46.78. Korro Bio has a twelve month low of $30.00 and a twelve month high of $98.00.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. As a group, equities analysts expect that Korro Bio will post -10.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vineet Agarwal sold 800 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Korro Bio

Large investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new position in Korro Bio in the second quarter valued at about $28,000. Quest Partners LLC boosted its stake in shares of Korro Bio by 172.1% in the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after buying an additional 1,124 shares during the period. Vestcor Inc bought a new stake in shares of Korro Bio during the 3rd quarter worth approximately $100,000. MetLife Investment Management LLC boosted its stake in shares of Korro Bio by 129.0% in the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after purchasing an additional 2,050 shares in the last quarter. Finally, Lynx1 Capital Management LP acquired a new position in Korro Bio in the 2nd quarter worth about $129,000. Institutional investors own 13.18% 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).