Oppenheimer Lowers Korro Bio (NASDAQ:KRRO) Price Target to $90.00

Korro Bio (NASDAQ:KRRO) had its target price lowered by equities research analysts at Oppenheimer from $155.00 to $90.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock.

Other equities analysts have also issued research reports about the company. HC Wainwright cut their target price on Korro Bio from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Chardan Capital began coverage on Korro Bio in a research note on Wednesday, April 16th. They issued a “buy” rating and a $25.00 target price on the stock. Cantor Fitzgerald raised Korro Bio to a “strong-buy” rating in a research note on Tuesday, April 29th. Finally, Royal Bank of Canada cut their target price on Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Korro Bio presently has an average rating of “Buy” and an average price target of $104.63.

Korro Bio Stock Down 9.3%

Korro Bio stock opened at $14.11 on Tuesday. Korro Bio has a 12-month low of $11.13 and a 12-month high of $98.00. The business’s 50-day simple moving average is $17.37 and its 200 day simple moving average is $33.46. The stock has a market cap of $132.51 million, a price-to-earnings ratio of -1.49 and a beta of 2.66.

Korro Bio (NASDAQ:KRRO) last released its earnings results on Wednesday, May 7th. The company reported ($2.49) earnings per share for the quarter, beating the consensus estimate of ($2.60) by $0.11. The company had revenue of $2.55 million during the quarter, compared to analyst estimates of $0.13 million. As a group, sell-side analysts expect that Korro Bio will post -9.52 EPS for the current year.

Institutional Investors Weigh In On Korro Bio

Hedge funds have recently modified their holdings of the business. KLP Kapitalforvaltning AS acquired a new stake in shares of Korro Bio during the fourth quarter worth about $53,000. AlphaQuest LLC raised its position in shares of Korro Bio by 23.2% during the fourth quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock worth $83,000 after purchasing an additional 412 shares during the period. Wells Fargo & Company MN raised its position in shares of Korro Bio by 32.4% during the fourth quarter. Wells Fargo & Company MN now owns 3,392 shares of the company’s stock worth $129,000 after purchasing an additional 831 shares during the period. Deutsche Bank AG raised its position in shares of Korro Bio by 29.4% during the fourth quarter. Deutsche Bank AG now owns 4,110 shares of the company’s stock worth $156,000 after purchasing an additional 935 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Korro Bio by 664.1% during the fourth quarter. Legal & General Group Plc now owns 4,325 shares of the company’s stock worth $165,000 after purchasing an additional 3,759 shares during the period. 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).