Korro Bio (NASDAQ:KRRO) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Korro Bio (NASDAQ:KRRO) was upgraded by stock analysts at Cantor Fitzgerald to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and set a $115.00 target price on shares of Korro Bio in a report on Thursday, March 20th. Chardan Capital began coverage on Korro Bio in a report on Wednesday, April 16th. They issued a “buy” rating and a $25.00 target price on the stock. Oppenheimer began coverage on Korro Bio in a research report on Friday, January 10th. They set an “outperform” rating and a $155.00 price objective for the company. Finally, Royal Bank of Canada cut their price target 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 analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Korro Bio presently has a consensus rating of “Buy” and an average price target of $114.63.

Korro Bio Price Performance

KRRO stock opened at $17.75 on Tuesday. Korro Bio has a one year low of $11.13 and a one year high of $98.00. The stock has a market cap of $166.65 million, a price-to-earnings ratio of -1.89 and a beta of 2.31. The company has a fifty day moving average price of $18.90 and a two-hundred day moving average price of $36.93.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, March 18th. The company reported ($2.26) EPS for the quarter, topping the consensus estimate of ($2.33) by $0.07. The company had revenue of $2.27 million for the quarter. Research analysts anticipate that Korro Bio will post -9.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Korro Bio

Institutional investors have recently modified their holdings of the company. AlphaQuest LLC lifted its stake 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 buying an additional 412 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Korro Bio by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company’s stock worth $563,000 after acquiring an additional 435 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Korro Bio by 9.0% in the fourth quarter. Bank of America Corp DE now owns 7,037 shares of the company’s stock valued at $268,000 after purchasing an additional 581 shares in the last quarter. Rhumbline Advisers boosted its holdings in Korro Bio by 7.8% during the 4th quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock worth $366,000 after acquiring an additional 691 shares during the last quarter. Finally, Blair William & Co. IL grew its position in Korro Bio by 5.7% in the 4th quarter. Blair William & Co. IL now owns 12,895 shares of the company’s stock worth $491,000 after purchasing an additional 695 shares in the last quarter. 13.18% of the stock is owned by institutional investors.

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).