Korro Bio (NASDAQ:KRRO) Now Covered by Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Korro Bio (NASDAQ:KRRO) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm issued an outperform rating and a $155.00 price objective on the stock.

Other equities analysts have also issued reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Korro Bio in a research note on Friday, November 22nd. Royal Bank of Canada boosted their price target on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Raymond James initiated coverage on shares of Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $144.00.

Korro Bio Stock Down 6.3 %

KRRO stock opened at $35.26 on Friday. The company has a fifty day moving average price of $48.34 and a 200-day moving average price of $45.92. Korro Bio has a 52-week low of $30.00 and a 52-week high of $98.00.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.55) by $0.29. On average, equities research analysts anticipate that Korro Bio will post -9.7 earnings per share for the current fiscal year.

Insider Activity at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $78.26, for a total transaction of $799,504.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Atlas Venture Life Science Advisors LLC increased its holdings in shares of 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 valued at $38,515,000 after acquiring an additional 17,857 shares in the last quarter. NEA Management Company LLC grew its position in Korro Bio by 1.7% in the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after purchasing an additional 17,857 shares during the period. Point72 Asset Management L.P. increased its stake in 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 purchasing an additional 190,259 shares in the last quarter. State Street Corp raised its holdings 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 buying an additional 18,877 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of Korro Bio in the second quarter valued at $3,958,000. 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).