Korro Bio, Inc. (NASDAQ:KRRO) Receives $86.83 Average PT from Analysts

Korro Bio, Inc. (NASDAQ:KRRO) has been assigned an average rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $86.8333.

A number of equities analysts have recently weighed in on the stock. Raymond James Financial dropped their price target on shares of Korro Bio from $153.00 to $147.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 13th. Chardan Capital reaffirmed a “buy” rating and issued a $25.00 price target on shares of Korro Bio in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Korro Bio in a research note on Saturday, September 27th. Finally, HC Wainwright lowered their target price on shares of Korro Bio from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, August 13th.

Korro Bio Trading Down 8.1%

NASDAQ KRRO opened at $42.97 on Monday. Korro Bio has a 1-year low of $10.29 and a 1-year high of $98.00. The company has a market capitalization of $403.53 million, a PE ratio of -4.41 and a beta of 2.89. The firm’s fifty day simple moving average is $29.65 and its 200-day simple moving average is $19.68.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($2.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.54) by ($0.20). The firm had revenue of $1.46 million for the quarter, compared to analyst estimates of $0.41 million. As a group, analysts predict that Korro Bio will post -9.52 EPS for the current year.

Hedge Funds Weigh In On Korro Bio

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in Korro Bio by 128,950.0% during the first quarter. GAMMA Investing LLC now owns 10,324 shares of the company’s stock worth $180,000 after buying an additional 10,316 shares during the last quarter. Bank of New York Mellon Corp increased its position in Korro Bio by 9.0% during the first quarter. Bank of New York Mellon Corp now owns 16,113 shares of the company’s stock worth $281,000 after buying an additional 1,325 shares during the last quarter. California State Teachers Retirement System increased its position in Korro Bio by 997.3% during the fourth quarter. California State Teachers Retirement System now owns 4,850 shares of the company’s stock worth $185,000 after buying an additional 4,408 shares during the last quarter. Wellington Management Group LLP increased its position in Korro Bio by 11.5% during the fourth quarter. Wellington Management Group LLP now owns 14,553 shares of the company’s stock worth $554,000 after buying an additional 1,501 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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 worth $318,000 after buying an additional 790 shares during the last quarter. 13.18% of the stock is owned by institutional investors and hedge funds.

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).