FY2024 EPS Estimates for Korro Bio Lifted by HC Wainwright

Korro Bio, Inc. (NASDAQ:KRRO) – Stock analysts at HC Wainwright raised their FY2024 earnings per share estimates for Korro Bio in a report released on Wednesday, November 13th. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings per share of ($9.49) for the year, up from their previous forecast of ($9.72). HC Wainwright has a “Buy” rating and a $115.00 price target on the stock. The consensus estimate for Korro Bio’s current full-year earnings is ($9.63) per share. HC Wainwright also issued estimates for Korro Bio’s Q4 2024 earnings at ($2.38) EPS, Q1 2025 earnings at ($2.45) EPS, Q3 2025 earnings at ($2.58) EPS, Q4 2025 earnings at ($2.64) EPS and FY2025 earnings at ($10.19) EPS.

A number of other brokerages have also recently issued reports on KRRO. William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Raymond James began coverage on Korro Bio in a research note on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price objective for the company. Finally, Royal Bank of Canada lifted their target price on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $142.17.

Korro Bio Trading Down 2.0 %

Shares of KRRO opened at $46.63 on Monday. Korro Bio has a 52 week low of $30.00 and a 52 week high of $98.00. The stock has a fifty day moving average of $50.21 and a 200-day moving average of $46.59.

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

Insider Activity

In other news, CFO Vineet Agarwal sold 800 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $70.00, for a total value of $56,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in Korro Bio in the second quarter valued at $649,000. Rhumbline Advisers bought a new position in shares of Korro Bio in the 2nd quarter worth about $279,000. Atlas Venture Life Science Advisors LLC lifted its stake in shares of Korro Bio by 1.6% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock valued at $38,515,000 after purchasing an additional 17,857 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Korro Bio during the 2nd quarter valued at about $28,000. Finally, Tri Locum Partners LP acquired a new stake in Korro Bio during the second quarter worth approximately $2,419,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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).