Korro Bio’s (KRRO) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a research note published on Tuesday,Benzinga reports. Chardan Capital currently has a $25.00 price objective on the stock.

KRRO has been the subject of several other research reports. Oppenheimer decreased their price objective on shares of Korro Bio from $155.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday. Cantor Fitzgerald raised shares of Korro Bio to a “strong-buy” rating in a report on Tuesday, April 29th. HC Wainwright cut their price target on shares of Korro Bio from $115.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Royal Bank of Canada dropped their price objective on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $104.63.

Korro Bio Stock Down 2.7%

KRRO opened at $15.55 on Tuesday. The stock has a market cap of $146.03 million, a PE ratio of -1.65 and a beta of 2.66. The company has a fifty day moving average of $17.53 and a 200-day moving average of $33.59. Korro Bio has a twelve month low of $11.13 and a twelve month high of $98.00.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($2.49) earnings per share for the quarter, beating the consensus estimate of ($2.60) by $0.11. The business had revenue of $2.55 million during the quarter, compared to the consensus estimate of $0.13 million. Sell-side analysts anticipate that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Trading of Korro Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Aberdeen Group plc purchased a new stake in shares of Korro Bio in the first quarter worth $1,470,000. Nuveen LLC purchased a new position in Korro Bio during the first quarter valued at $211,000. Charles Schwab Investment Management Inc. grew its stake in Korro Bio by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company’s stock valued at $318,000 after acquiring an additional 790 shares in the last quarter. Blair William & Co. IL grew its stake in Korro Bio by 25.9% during the first quarter. Blair William & Co. IL now owns 16,230 shares of the company’s stock valued at $283,000 after acquiring an additional 3,335 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Korro Bio during the first quarter valued at $185,000. 13.18% of the stock is 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).