Korro Bio (NASDAQ:KRRO) Coverage Initiated at Oppenheimer

Oppenheimer started coverage on shares of Korro Bio (NASDAQ:KRRO) in a report issued on Friday, Marketbeat reports. The brokerage issued an outperform rating and a $155.00 target price on the stock.

KRRO has been the topic of a number of other research reports. William Blair reissued an “outperform” rating on shares of Korro Bio in a research note on Wednesday, November 13th. Raymond James initiated coverage on shares of Korro Bio in a report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price target on shares of Korro Bio in a research note on Friday, November 22nd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $144.00.

Korro Bio Trading Down 6.3 %

Shares of Korro Bio stock opened at $35.26 on Friday. The firm has a 50-day simple moving average of $48.34 and a two-hundred day simple moving average of $46.10. Korro Bio has a fifty-two week low of $30.00 and a fifty-two week high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. On average, equities research analysts forecast that Korro Bio will post -9.7 earnings per share for the current year.

Insider Transactions at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $70.00, for a total value of $56,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Korro Bio by 374.9% during the third quarter. JPMorgan Chase & Co. now owns 12,391 shares of the company’s stock worth $414,000 after purchasing an additional 9,782 shares during the last quarter. Vestcor Inc purchased a new stake in shares of Korro Bio in the 3rd quarter valued at approximately $100,000. Wellington Management Group LLP acquired a new stake in shares of Korro Bio during the 3rd quarter worth approximately $436,000. State Street Corp raised its position in shares of Korro Bio by 18.9% during the 3rd quarter. State Street Corp now owns 118,765 shares of the company’s stock valued at $3,969,000 after buying an additional 18,877 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in Korro Bio by 129.0% in the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after acquiring an additional 2,050 shares during the last quarter. Institutional investors and hedge funds 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).