Korro Bio’s (KRRO) “Outperform” Rating Reiterated at William Blair

William Blair reiterated their outperform rating on shares of Korro Bio (NASDAQ:KRRO) in a research note released on Wednesday,RTT News reports.

A number of other research firms have also recently commented on KRRO. HC Wainwright upped their price target on Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Raymond James started coverage on Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective on the stock. Finally, Royal Bank of Canada increased their target price on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $142.17.

Korro Bio Price Performance

Shares of Korro Bio stock traded down $2.14 on Wednesday, hitting $47.56. The company’s stock had a trading volume of 91,603 shares, compared to its average volume of 69,920. Korro Bio has a 1 year low of $30.00 and a 1 year high of $98.00. The firm has a fifty day moving average price of $50.05 and a 200-day moving average price of $46.85.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, topping the consensus estimate of ($2.55) by $0.29. Sell-side analysts predict that Korro Bio will post -10.02 earnings per share for the current fiscal year.

Insider Transactions at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $70.00, for a total value of $56,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Korro Bio

Hedge funds have recently made changes to their positions in the stock. Vestcor Inc acquired a new position in Korro Bio in the 3rd quarter worth $100,000. Wellington Management Group LLP acquired a new stake in Korro Bio during the third quarter worth about $436,000. State Street Corp raised its stake in Korro Bio by 18.9% during the third quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after acquiring an additional 18,877 shares during the period. MetLife Investment Management LLC raised its stake in Korro Bio by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after acquiring an additional 2,050 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Korro Bio by 1,018.2% during the third quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock worth $164,000 after acquiring an additional 4,470 shares during the period. Institutional investors and hedge funds 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).