HC Wainwright Cuts Korro Bio (NASDAQ:KRRO) Price Target to $100.00

Korro Bio (NASDAQ:KRROFree Report) had its price objective reduced by HC Wainwright from $115.00 to $100.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Korro Bio’s Q2 2024 earnings at ($2.43) EPS, Q3 2024 earnings at ($2.24) EPS, Q4 2024 earnings at ($2.31) EPS, FY2024 earnings at ($9.41) EPS, Q1 2025 earnings at ($2.48) EPS, Q2 2025 earnings at ($2.56) EPS, Q3 2025 earnings at ($2.64) EPS, Q4 2025 earnings at ($2.72) EPS and FY2025 earnings at ($10.40) EPS.

KRRO has been the topic of several other research reports. BMO Capital Markets reaffirmed an outperform rating and set a $120.00 price target on shares of Korro Bio in a research note on Wednesday. Royal Bank of Canada increased their price objective on shares of Korro Bio from $70.00 to $90.00 and gave the company an outperform rating in a report on Wednesday, March 27th. Finally, Piper Sandler reaffirmed an overweight rating and set a $180.00 target price on shares of Korro Bio in a report on Wednesday, March 27th.

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Korro Bio Stock Up 6.6 %

KRRO opened at $54.66 on Wednesday. Korro Bio has a 1-year low of $9.15 and a 1-year high of $97.91. The company has a 50-day moving average of $65.99.

Insiders Place Their Bets

In other Korro Bio news, major shareholder Venture Opportunity Fund Atlas acquired 17,857 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were acquired at an average price of $56.00 per share, for a total transaction of $999,992.00. Following the acquisition, the insider now directly owns 195,074 shares of the company’s stock, valued at approximately $10,924,144. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 16.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Atlas Venture Life Science Advisors LLC bought a new stake in Korro Bio during the 4th quarter worth about $53,648,000. Eventide Asset Management LLC bought a new stake in Korro Bio during the fourth quarter worth about $26,185,000. 72 Investment Holdings LLC acquired a new position in Korro Bio during the fourth quarter valued at approximately $13,269,000. Monashee Investment Management LLC bought a new position in Korro Bio in the fourth quarter valued at approximately $4,352,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Korro Bio during the 4th quarter worth approximately $48,000. 13.18% of the stock is currently owned by institutional investors.

About Korro Bio

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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).

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