William Blair Increases Earnings Estimates for Korro Bio

Korro Bio, Inc. (NASDAQ:KRRO) – Stock analysts at William Blair upped their FY2024 EPS estimates for Korro Bio in a research report issued to clients and investors on Wednesday, November 13th. William Blair analyst M. Minter now anticipates that the company will earn ($9.80) per share for the year, up from their previous forecast of ($10.56). William Blair has a “Outperform” rating on the stock. The consensus estimate for Korro Bio’s current full-year earnings is ($9.63) per share. William Blair also issued estimates for Korro Bio’s Q4 2024 earnings at ($2.68) EPS, Q1 2025 earnings at ($2.79) EPS, Q2 2025 earnings at ($2.89) EPS, Q3 2025 earnings at ($2.93) EPS, Q4 2025 earnings at ($2.99) EPS, FY2025 earnings at ($11.60) EPS, FY2026 earnings at ($12.56) EPS, FY2027 earnings at ($13.59) EPS and FY2028 earnings at ($12.97) EPS.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29.

A number of other equities analysts have also recently weighed in on KRRO. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Korro Bio in a research note on Wednesday, November 13th. Royal Bank of Canada boosted their price objective on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, Raymond James assumed coverage on shares of Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price for the company. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Korro Bio currently has a consensus rating of “Buy” and an average price target of $142.17.

Korro Bio Trading Down 4.3 %

NASDAQ:KRRO opened at $47.56 on Monday. Korro Bio has a 1 year low of $30.00 and a 1 year high of $98.00. The stock has a fifty day moving average price of $50.05 and a two-hundred day moving average price of $46.68.

Insider Buying and Selling

In other news, CFO Vineet Agarwal sold 10,216 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. purchased a new position in Korro Bio during the second quarter worth $28,000. Quest Partners LLC boosted its stake in shares of Korro Bio by 172.1% during the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after acquiring an additional 1,124 shares during the last quarter. Vestcor Inc purchased a new stake in Korro Bio during the 3rd quarter worth about $100,000. MetLife Investment Management LLC increased its position in Korro Bio by 129.0% during the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after purchasing an additional 2,050 shares in the last quarter. Finally, Lynx1 Capital Management LP acquired a new position in Korro Bio in the 2nd quarter valued at about $129,000. Hedge funds and other 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).