Korro Bio, Inc. (NASDAQ:KRRO) Given Consensus Recommendation of “Buy” by Brokerages

Korro Bio, Inc. (NASDAQ:KRRO) has been given an average rating of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $102.43.

Several equities research analysts recently weighed in on KRRO shares. Royal Bank of Canada cut their price objective on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, March 19th. Oppenheimer cut their price objective on shares of Korro Bio from $155.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Chardan Capital reissued a “buy” rating and issued a $25.00 target price on shares of Korro Bio in a report on Tuesday, May 13th. HC Wainwright dropped their target price on shares of Korro Bio from $115.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Cantor Fitzgerald raised shares of Korro Bio to a “strong-buy” rating in a report on Tuesday, April 29th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KRRO. Cormorant Asset Management LP bought a new position in Korro Bio in the 1st quarter valued at approximately $6,621,000. ADAR1 Capital Management LLC boosted its position in Korro Bio by 18.5% during the 1st quarter. ADAR1 Capital Management LLC now owns 68,715 shares of the company’s stock worth $1,196,000 after buying an additional 10,737 shares during the period. Quarry LP acquired a new stake in Korro Bio during the 1st quarter worth approximately $35,000. DAFNA Capital Management LLC acquired a new stake in Korro Bio during the 1st quarter worth approximately $820,000. Finally, Driehaus Capital Management LLC boosted its position in Korro Bio by 17.7% during the 1st quarter. Driehaus Capital Management LLC now owns 582,449 shares of the company’s stock worth $10,140,000 after buying an additional 87,544 shares during the period. Institutional investors own 13.18% of the company’s stock.

Korro Bio Stock Up 18.1%

KRRO opened at $14.59 on Tuesday. Korro Bio has a twelve month low of $10.29 and a twelve month high of $98.00. The company has a 50-day simple moving average of $14.67 and a 200 day simple moving average of $27.87. The stock has a market capitalization of $137.01 million, a price-to-earnings ratio of -1.55 and a beta of 2.45.

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

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).