Korro Bio (NASDAQ:KRRO) Receives “Buy” Rating from Chardan Capital

Chardan Capital reiterated their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a report issued on Tuesday,Benzinga reports. The firm currently has a $25.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on KRRO. Oppenheimer dropped their price objective on shares of Korro Bio from $155.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday. HC Wainwright reduced their price objective on shares of Korro Bio from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Royal Bank of Canada cut their price target on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Finally, Cantor Fitzgerald raised shares of Korro Bio to a “strong-buy” rating in a research report on Tuesday, April 29th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Korro Bio has an average rating of “Buy” and a consensus target price of $104.63.

Korro Bio Stock Performance

Korro Bio stock opened at $15.55 on Tuesday. The firm has a market cap of $146.03 million, a PE ratio of -1.65 and a beta of 2.66. Korro Bio has a twelve month low of $11.13 and a twelve month high of $98.00. The firm’s 50 day moving average price is $17.53 and its two-hundred day moving average price is $33.59.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($2.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.60) by $0.11. The firm had revenue of $2.55 million for the quarter, compared to the consensus estimate of $0.13 million. Equities analysts anticipate that Korro Bio will post -9.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Korro Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new position in shares of Korro Bio in the fourth quarter valued at about $53,000. AlphaQuest LLC grew its stake in shares of 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 acquiring an additional 412 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Korro Bio by 32.4% in the fourth quarter. Wells Fargo & Company MN now owns 3,392 shares of the company’s stock valued at $129,000 after acquiring an additional 831 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Korro Bio by 29.4% in the fourth quarter. Deutsche Bank AG now owns 4,110 shares of the company’s stock valued at $156,000 after acquiring an additional 935 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Korro Bio by 664.1% in the fourth quarter. Legal & General Group Plc now owns 4,325 shares of the company’s stock valued at $165,000 after acquiring an additional 3,759 shares in the last quarter. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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).