Korro Bio (NASDAQ:KRRO) Coverage Initiated by Analysts at Raymond James

Raymond James initiated coverage on shares of Korro Bio (NASDAQ:KRRO) in a research note issued on Monday, Briefing.com reports. The brokerage set a “strong-buy” rating and a $153.00 price target on the stock. Raymond James’ price target would suggest a potential upside of 91.15% from the company’s previous close.

A number of other research firms have also commented on KRRO. HC Wainwright lifted their price objective on shares of Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Korro Bio in a research report on Thursday, September 19th. Finally, William Blair started coverage on Korro Bio in a research note on Wednesday, August 14th. They issued an “outperform” rating and a $180.00 target price on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $140.50.

Korro Bio Price Performance

Shares of NASDAQ KRRO opened at $80.04 on Monday. Korro Bio has a 52-week low of $9.15 and a 52-week high of $98.00. The business has a 50-day moving average price of $42.25 and a 200 day moving average price of $47.33.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). As a group, sell-side analysts expect that Korro Bio will post -10.09 EPS for the current fiscal year.

Insider Buying and Selling at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. 16.80% of the stock is owned by corporate insiders.

Institutional Trading of Korro Bio

Several hedge funds and other institutional investors have recently made changes to their positions in KRRO. Bank of New York Mellon Corp purchased a new position in Korro Bio in the second quarter valued at about $649,000. Rhumbline Advisers purchased a new position in Korro Bio in the 2nd quarter valued at approximately $279,000. Atlas Venture Life Science Advisors LLC raised its holdings in Korro Bio by 1.6% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock worth $38,515,000 after purchasing an additional 17,857 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Korro Bio during the second quarter worth $28,000. Finally, Tri Locum Partners LP acquired a new stake in Korro Bio in the second quarter valued at $2,419,000. Institutional investors and hedge funds own 13.18% of the company’s stock.

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).