Royal Bank of Canada Cuts Korro Bio (NASDAQ:KRRO) Price Target to $95.00

Korro Bio (NASDAQ:KRRO) had its price objective trimmed by Royal Bank of Canada from $105.00 to $95.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $115.00 price target on shares of Korro Bio in a research report on Friday, November 22nd. Oppenheimer started coverage on shares of Korro Bio in a research report on Friday, January 10th. They set an “outperform” rating and a $155.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $142.57.

Korro Bio Trading Down 1.9 %

NASDAQ:KRRO opened at $23.72 on Wednesday. The firm has a fifty day simple moving average of $30.42 and a 200-day simple moving average of $41.70. Korro Bio has a 12 month low of $18.50 and a 12 month high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, beating the consensus estimate of ($2.33) by $0.07. The firm had revenue of $2.27 million for the quarter. On average, sell-side analysts predict that Korro Bio will post -9.52 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Korro Bio during the 4th quarter valued at about $53,000. Quest Partners LLC grew its holdings in Korro Bio by 172.1% in the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after purchasing an additional 1,124 shares during the period. AlphaQuest LLC grew its holdings in Korro Bio by 23.2% in the fourth quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock valued at $83,000 after purchasing an additional 412 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of Korro Bio by 251.0% in the third quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company’s stock valued at $95,000 after buying an additional 2,041 shares in the last quarter. Finally, Vestcor Inc acquired a new position in shares of Korro Bio during the 3rd quarter worth approximately $100,000. 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).