Korro Bio (NASDAQ:KRRO) Announces Earnings Results

Korro Bio (NASDAQ:KRRO) released its quarterly earnings data on Wednesday. The company reported ($1.92) EPS for the quarter, topping the consensus estimate of ($2.61) by $0.69, Zacks reports.

Korro Bio Stock Down 4.2%

KRRO opened at $31.42 on Thursday. Korro Bio has a fifty-two week low of $10.29 and a fifty-two week high of $70.49. The firm has a market cap of $295.03 million, a price-to-earnings ratio of -3.22 and a beta of 2.94. The company’s 50-day moving average price is $38.69 and its 200 day moving average price is $23.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KRRO shares. HC Wainwright reiterated a “neutral” rating on shares of Korro Bio in a report on Thursday. Raymond James Financial cut 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 “neutral” rating and issued a $7.00 price objective (down from $25.00) on shares of Korro Bio in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Korro Bio presently has a consensus rating of “Moderate Buy” and an average target price of $83.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Korro Bio by 2.3% during the third quarter. Vanguard Group Inc. now owns 395,659 shares of the company’s stock valued at $18,948,000 after purchasing an additional 8,921 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of Korro Bio in the 3rd quarter valued at approximately $467,000. Geode Capital Management LLC lifted its holdings in shares of Korro Bio by 10.8% in the second quarter. Geode Capital Management LLC now owns 155,387 shares of the company’s stock valued at $1,941,000 after purchasing an additional 15,166 shares in the last quarter. Bank of America Corp DE lifted its stake in Korro Bio by 520.0% in the 2nd quarter. Bank of America Corp DE now owns 28,156 shares of the company’s stock worth $352,000 after acquiring an additional 23,615 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of Korro Bio by 357.6% during the second quarter. Raymond James Financial Inc. now owns 83,392 shares of the company’s stock worth $1,042,000 after purchasing an additional 65,170 shares during the period. Institutional investors own 13.18% of the company’s stock.

About Korro Bio

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).