HC Wainwright Increases Korro Bio (NASDAQ:KRRO) Price Target to $115.00

Korro Bio (NASDAQ:KRRO) had its price objective upped by equities researchers at HC Wainwright from $100.00 to $115.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 43.73% from the stock’s previous close.

KRRO has been the topic of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Korro Bio in a research note on Thursday, September 19th. William Blair assumed coverage on shares of Korro Bio in a research note on Wednesday, August 14th. They issued an “outperform” rating and a $180.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $138.00.

Korro Bio Stock Performance

KRRO opened at $80.01 on Friday. Korro Bio has a 1-year low of $9.15 and a 1-year high of $98.00. The stock’s 50 day simple moving average is $41.33 and its 200 day simple moving average is $47.86.

Korro Bio (NASDAQ:KRRO) last posted its 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). On average, equities analysts expect that Korro Bio will post -10.09 EPS for the current year.

Institutional Investors Weigh In On Korro Bio

Several hedge funds have recently modified their holdings of KRRO. Point72 Asset Management L.P. boosted its stake 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 worth $15,448,000 after purchasing an additional 190,259 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Korro Bio during the 2nd quarter worth about $3,958,000. Tri Locum Partners LP acquired a new stake in shares of Korro Bio during the 2nd quarter worth about $2,419,000. Millennium Management LLC lifted its holdings in shares of Korro Bio by 38.3% during 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 during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Korro Bio during the 2nd quarter worth about $649,000. 13.18% of the stock is owned by institutional investors and hedge funds.

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).