Oppenheimer Begins Coverage on Korro Bio (NASDAQ:KRRO)

Oppenheimer started coverage on shares of Korro Bio (NASDAQ:KRRO) in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $155.00 price target on the stock. Oppenheimer’s price target would suggest a potential upside of 312.01% from the company’s current price.

KRRO has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and set a $115.00 price objective on shares of Korro Bio in a report on Friday, November 22nd. Raymond James began coverage on 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. William Blair reissued an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada upped their price target on Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Korro Bio has an average rating of “Buy” and a consensus target price of $144.00.

Korro Bio Stock Performance

KRRO opened at $37.62 on Friday. The company has a fifty day simple moving average of $48.80 and a 200 day simple moving average of $45.92. Korro Bio has a 12 month low of $30.00 and a 12 month high of $98.00.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. On average, analysts forecast that Korro Bio will post -9.7 EPS for the current fiscal year.

Insider Activity at Korro Bio

In other Korro Bio news, CFO Vineet Agarwal sold 10,216 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.40% of the stock is owned by company insiders.

Institutional Trading of Korro Bio

Hedge funds have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new stake in Korro Bio in the 2nd quarter worth about $28,000. Quest Partners LLC raised its holdings in Korro Bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after acquiring an additional 1,124 shares in the last quarter. Vestcor Inc bought a new stake in shares of Korro Bio during the 3rd quarter valued at $100,000. MetLife Investment Management LLC raised its stake in Korro Bio by 129.0% in the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after purchasing an additional 2,050 shares in the last quarter. Finally, Lynx1 Capital Management LP bought a new stake in shares of Korro Bio during the 2nd quarter worth approximately $129,000. 13.18% of the stock is 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).