HC Wainwright Reaffirms Buy Rating for Korro Bio (NASDAQ:KRRO)

HC Wainwright reissued their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a report published on Friday morning,Benzinga reports. The brokerage currently has a $115.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada increased their price objective on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. William Blair reiterated an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Finally, Raymond James initiated coverage on shares of Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $142.17.

Korro Bio Price Performance

KRRO stock opened at $52.31 on Friday. The firm has a 50-day simple moving average of $50.90 and a two-hundred day simple moving average of $46.42. Korro Bio has a one year low of $30.00 and a one year 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, beating the consensus estimate of ($2.55) by $0.29. Equities research analysts expect that Korro Bio will post -9.63 earnings per share for the current year.

Insider Transactions at Korro Bio

In other news, CFO Vineet Agarwal sold 800 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was 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 SEC, which is available at the SEC website. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. purchased a new position in shares of Korro Bio during the 2nd quarter valued at approximately $28,000. Quest Partners LLC lifted its position in shares of Korro Bio by 172.1% during the 3rd 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 in the last quarter. Vestcor Inc purchased a new position in shares of Korro Bio during the 3rd quarter valued at approximately $100,000. MetLife Investment Management LLC lifted its position in shares of Korro Bio by 129.0% during the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after buying an additional 2,050 shares in the last quarter. Finally, Lynx1 Capital Management LP purchased a new position in shares of Korro Bio during the 2nd quarter valued at approximately $129,000. Hedge funds and other 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).