Korro Bio (NASDAQ:KRRO) PT Raised to $105.00 at Royal Bank of Canada

Korro Bio (NASDAQ:KRRO) had its price objective increased by Royal Bank of Canada from $95.00 to $105.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on KRRO. HC Wainwright increased their target price on Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 18th. Raymond James began coverage on Korro Bio in a research note on Monday. They set a “strong-buy” rating and a $153.00 price objective for the company. Finally, William Blair began coverage on shares of Korro Bio in a report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price target for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Korro Bio presently has a consensus rating of “Buy” and an average target price of $142.17.

Korro Bio Stock Performance

Shares of KRRO opened at $68.13 on Monday. Korro Bio has a fifty-two week low of $9.15 and a fifty-two week high of $98.00. The firm has a 50 day moving average price of $44.28 and a 200-day moving average price of $47.52.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.04). Equities analysts expect that Korro Bio will post -10.09 earnings per share for the current year.

Insider Buying and Selling

In other Korro Bio news, CFO Vineet Agarwal sold 10,216 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 16.80% of the stock is currently owned by insiders.

Institutional Trading of Korro Bio

Several large investors have recently bought and sold shares of KRRO. 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. NEA Management Company LLC lifted its position in Korro Bio by 1.7% during the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after buying an additional 17,857 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Korro Bio by 71.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock valued at $15,448,000 after buying an additional 190,259 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Korro Bio in the 2nd quarter worth about $3,958,000. Finally, Millennium Management LLC increased its stake in shares of Korro Bio by 38.3% in the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock worth $2,852,000 after acquiring an additional 23,307 shares in the last quarter. 13.18% of the stock is owned by 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).