Korro Bio’s (KRRO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a report issued on Wednesday morning,Benzinga reports. They currently have a $115.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. William Blair reissued an “outperform” rating on shares of Korro Bio in a research note on Wednesday. Raymond James assumed coverage on Korro Bio in a report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Korro Bio currently has an average rating of “Buy” and an average price target of $142.17.

Korro Bio Price Performance

Shares of KRRO opened at $47.56 on Wednesday. The firm has a 50-day moving average price of $50.05 and a 200 day moving average price of $46.85. Korro Bio has a 12-month low of $30.00 and a 12-month high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, beating the consensus estimate of ($2.55) by $0.29. On average, sell-side analysts anticipate that Korro Bio will post -10.02 earnings per share for the current year.

Insider Activity

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. purchased a new position in Korro Bio in the second quarter worth approximately $28,000. Quest Partners LLC lifted its position in shares of Korro Bio by 172.1% during the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after buying an additional 1,124 shares during the last quarter. Vestcor Inc acquired a new position in shares of Korro Bio in the 3rd quarter valued at $100,000. MetLife Investment Management LLC lifted its position in Korro Bio by 129.0% in the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after acquiring an additional 2,050 shares during the last quarter. Finally, Lynx1 Capital Management LP acquired a new position in Korro Bio in the second quarter valued at $129,000. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

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).