Oppenheimer Issues Pessimistic Forecast for Korro Bio (NASDAQ:KRRO) Stock Price

Korro Bio (NASDAQ:KRRO) had its price target decreased by Oppenheimer from $155.00 to $90.00 in a research report released on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities analysts also recently weighed in on KRRO. Chardan Capital assumed coverage on Korro Bio in a research report on Wednesday, April 16th. They set a “buy” rating and a $25.00 target price on the stock. Royal Bank of Canada decreased their target price on Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 19th. Cantor Fitzgerald raised Korro Bio to a “strong-buy” rating in a research note on Tuesday, April 29th. Finally, HC Wainwright cut their target price on Korro Bio from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Korro Bio currently has an average rating of “Buy” and an average target price of $104.63.

Korro Bio Stock Down 2.7%

KRRO stock opened at $15.55 on Tuesday. The firm has a market cap of $146.03 million, a PE ratio of -1.65 and a beta of 2.66. The business has a 50 day moving average of $17.53 and a 200 day moving average of $33.59. Korro Bio has a twelve month low of $11.13 and a twelve month high of $98.00.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($2.49) EPS for the quarter, topping the consensus estimate of ($2.60) by $0.11. The firm had revenue of $2.55 million during the quarter, compared to the consensus estimate of $0.13 million. On average, research analysts expect that Korro Bio will post -9.52 earnings per share for the current fiscal year.

Institutional Trading of Korro Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Deep Track Capital LP raised its stake in Korro Bio by 2.9% in the 4th quarter. Deep Track Capital LP now owns 874,614 shares of the company’s stock worth $33,297,000 after acquiring an additional 24,614 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Korro Bio during the 4th quarter valued at about $26,870,000. Driehaus Capital Management LLC boosted its holdings in Korro Bio by 220.3% in the 4th quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company’s stock worth $18,841,000 after buying an additional 340,410 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Korro Bio by 11.0% in the 4th quarter. Point72 Asset Management L.P. now owns 493,997 shares of the company’s stock worth $18,806,000 after purchasing an additional 49,147 shares in the last quarter. Finally, Tri Locum Partners LP lifted its stake in Korro Bio by 125.3% in the 4th quarter. Tri Locum Partners LP now owns 144,216 shares of the company’s stock worth $5,490,000 after purchasing an additional 80,202 shares in the last quarter. 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).