Korro Bio (NASDAQ:KRRO) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Korro Bio (NASDAQ:KRRO) in a research report sent to investors on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $95.00 price target on the stock.

A number of other equities research analysts also recently commented on the stock. HC Wainwright restated a buy rating and issued a $100.00 price objective on shares of Korro Bio in a research report on Tuesday. William Blair assumed coverage on Korro Bio in a report on Wednesday, August 14th. They issued an outperform rating and a $180.00 price target for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $135.00.

Korro Bio Stock Performance

Korro Bio stock opened at $38.50 on Thursday. The business has a 50 day simple moving average of $43.73 and a 200-day simple moving average of $51.31. Korro Bio has a 12 month low of $9.15 and a 12 month high of $97.91.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($2.43) EPS for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). As a group, research analysts anticipate that Korro Bio will post -10.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atlas Venture Life Science Advisors LLC acquired a new stake in shares of Korro Bio during the 4th quarter valued at approximately $53,648,000. Monashee Investment Management LLC purchased a new position in Korro Bio in the 4th quarter valued at approximately $4,352,000. 72 Investment Holdings LLC acquired a new position in Korro Bio during the fourth quarter worth $13,269,000. Eventide Asset Management LLC purchased a new stake in Korro Bio during the fourth quarter worth $26,185,000. Finally, Bank of New York Mellon Corp purchased a new stake in Korro Bio during the second quarter worth $649,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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).