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Investing.com - H.C. Wainwright lowered its price target on Korro Bio Inc. (NASDAQ:KRRO) to $90.00 from $100.00 on Wednesday, while maintaining a Buy rating on the stock. Currently trading at $15.99, the stock sits well below analyst targets ranging from $25 to $180. According to InvestingPro data, the company maintains a FAIR financial health score.
The firm’s adjustment follows Korro’s update on its Phase 1/2a (REWRITE) study of KRRO-110, where more than 80% of planned healthy volunteers have been dosed across multiple single-ascending-dose cohorts, including dose levels expected to be pharmacologically relevant for PiZZ alpha-1 antitrypsin deficiency.
Through August 12, no treatment-emergent serious adverse events or dose-limiting toxicities have been observed in the study, according to the company’s report.
Korro Bio still plans to nominate a second development candidate by year-end 2025 in a rare metabolic disorder, which H.C. Wainwright identified as another catalyst to monitor.
The price target reduction reflects H.C. Wainwright’s updated model that accounts for increases in potentially dilutive shares outstanding and slight modifications to expense projections.
In other recent news, Korro Bio has announced that the European Medicines Agency (EMA) has granted orphan drug designation for its investigational treatment, KRRO-110, aimed at addressing Alpha-1 Antitrypsin Deficiency (AATD). This follows a similar designation by the U.S. Food and Drug Administration earlier this year, as the therapy undergoes evaluation in the Phase 1/2a REWRITE clinical study. Meanwhile, Raymond James has adjusted its price target for Korro Bio to $147 from $153, maintaining a Strong Buy rating. The adjustment comes after the company’s second-quarter earnings report, with a positive outlook on KRRO-110. H.C. Wainwright has reiterated its Buy rating and a $100 price target, underscoring Korro Bio’s RNA therapy approach for AATD. The firm noted the therapy’s potential to leverage the body’s machinery to restore normal protein levels. These developments reflect ongoing interest and analysis from investment firms regarding Korro Bio’s strategies and market potential.
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