Korro Bio, Inc. (NASDAQ:KRRO) Stock Has Consensus Price Target of $16.50

Korro Bio, Inc. (NASDAQ:KRRO) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, six have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $16.50.

Several research firms have recently issued reports on KRRO. Jefferies Financial Group set a $15.00 target price on shares of Korro Bio in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a report on Friday, October 2nd. Wall Street Zen upgraded shares of Korro Bio from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Korro Bio in a report on Tuesday, October 6th.

Insider Buying and Selling

In related news, Director Jean Formela sold 28,468 shares of Korro Bio stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $14.00, for a total value of $398,552.00. Following the sale, the director directly owned 141,053 shares in the company, valued at approximately $1,974,742. The trade was a 16.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Lynx1 Capital Management Lp purchased 52,175 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The shares were purchased at an average price of $10.72 per share, with a total value of $559,316.00. Following the completion of the transaction, the insider directly owned 1,597,155 shares of the company’s stock, valued at $17,121,501.60. This represents a 3.38% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 79,809 shares of company stock worth $884,919 and sold 36,126 shares worth $502,148. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Korro Bio in the 2nd quarter valued at approximately $10,776,000. Affinity Asset Advisors LLC acquired a new stake in shares of Korro Bio in the first quarter valued at $8,002,000. Nantahala Capital Management LLC acquired a new stake in shares of Korro Bio in the second quarter valued at $8,699,274. ADAR1 Capital Management LLC purchased a new stake in shares of Korro Bio in the 2nd quarter valued at $7,118,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Korro Bio by 81.9% in the 1st quarter. Renaissance Technologies LLC now owns 136,227 shares of the company’s stock valued at $1,542,000 after buying an additional 61,327 shares during the period. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Korro Bio Price Performance

Shares of NASDAQ KRRO opened at $14.31 on Tuesday. The firm has a fifty day moving average price of $11.82 and a 200-day moving average price of $12.15. Korro Bio has a 1 year low of $5.20 and a 1 year high of $17.35.

Korro Bio (NASDAQ:KRRO) last released its earnings results on Thursday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.16. As a group, equities analysts expect that Korro Bio will post -4.45 EPS for the current year.

About Korro Bio

Korro Bio is a clinical-stage biotechnology company headquartered in Cambridge, Massachusetts. It develops RNA-editing medicines intended to address genetic diseases by changing specific RNA sequences rather than altering a patient’s DNA. The company’s OPERA platform uses oligonucleotides to direct the body’s naturally occurring ADAR enzymes to edit targeted RNA. Korro has developed KRRO-110, an investigational candidate designed to correct a disease-associated RNA change linked to alpha-1 antitrypsin deficiency.