Korro Bio (NASDAQ:KRRO) Coverage Initiated by Analysts at Chardan Capital

Chardan Capital assumed coverage on shares of Korro Bio (NASDAQ:KRRO) in a research note published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $25.00 price target on the stock.

A number of other brokerages also recently commented on KRRO. Oppenheimer initiated coverage on shares of Korro Bio in a research note on Friday, January 10th. They set an “outperform” rating and a $155.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Korro Bio in a research report on Thursday, March 20th. Finally, Royal Bank of Canada decreased their price target on Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $120.43.

Korro Bio Trading Up 0.4 %

KRRO opened at $13.46 on Wednesday. Korro Bio has a twelve month low of $11.13 and a twelve month high of $98.00. The firm has a market capitalization of $126.38 million, a PE ratio of -1.43 and a beta of 2.31. The firm’s 50-day moving average price is $21.54 and its 200 day moving average price is $38.19.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($2.26) EPS for the quarter, beating the consensus estimate of ($2.33) by $0.07. The company had revenue of $2.27 million during the quarter. As a group, analysts predict that Korro Bio will post -9.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in Korro Bio by 18.9% in the third quarter. State Street Corp now owns 118,765 shares of the company’s stock valued at $3,969,000 after acquiring an additional 18,877 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Korro Bio by 374.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,391 shares of the company’s stock worth $414,000 after buying an additional 9,782 shares during the last quarter. Wellington Management Group LLP acquired a new position in Korro Bio during the third quarter worth approximately $436,000. Rhumbline Advisers lifted its stake in Korro Bio by 7.8% in the fourth quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock valued at $366,000 after buying an additional 691 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in shares of Korro Bio in the fourth quarter valued at approximately $26,870,000. Hedge funds and other institutional investors own 13.18% of the company’s stock.

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).