Korro Bio (NASDAQ:KRRO) PT Raised to $115.00 at HC Wainwright

Korro Bio (NASDAQ:KRRO) had its target price raised by research analysts at HC Wainwright from $100.00 to $115.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 43.68% from the company’s previous close.

Other research analysts have also issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Korro Bio in a report on Thursday, September 19th. William Blair started coverage on shares of Korro Bio in a report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Korro Bio currently has an average rating of “Buy” and an average price target of $138.00.

Korro Bio Stock Up 0.0 %

Korro Bio stock opened at $80.04 on Friday. Korro Bio has a 12-month low of $9.15 and a 12-month high of $98.00. The firm’s fifty day moving average price is $42.25 and its 200 day moving average price is $47.55.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.39) by ($0.04). Equities analysts anticipate that Korro Bio will post -10.09 EPS for the current year.

Insider Activity

In other news, CFO Vineet Agarwal sold 10,216 shares of Korro Bio stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $78.26, for a total value of $799,504.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. boosted its holdings in shares of Korro Bio by 71.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock valued at $15,448,000 after buying an additional 190,259 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Korro Bio in the 2nd quarter valued at about $3,958,000. Lynx1 Capital Management LP acquired a new position in Korro Bio during the 2nd quarter valued at about $129,000. Millennium Management LLC boosted its stake in Korro Bio by 38.3% during the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock valued at $2,852,000 after purchasing an additional 23,307 shares during the period. Finally, NEA Management Company LLC boosted its stake in Korro Bio by 1.7% during the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after purchasing an additional 17,857 shares during the period. 13.18% of the stock is 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).