H.C. Wainwright initiated coverage on Korro Bio Inc KRRO, a biotech company aimed at editing ribonucleic acid (RNA) for treating diseases.
Recently, Korro Bio merged with Frequency Therapeutics Inc. in an all-stock deal, resulting in about $170 million in post-transaction cash to fund operations into 2026.
Analysts Mitchell S. Kapoor and Raghuram Selvaraju initiated a Buy rating and set a price target of $100 per share.
Korro’s core technology, Oligonucleotide Promoted Editing of RNA (OPERA), taps into native biology to make a targeted base edit in the RNA sequence, yielding desired protein translation and function.
Korro’s OPERA platform allows it to pursue a wide range of indications, initially focusing on six potential programs correcting mutations or creating protein variants.
Korro’s preclinical data was generated using a lipid nanoparticle, already used in the approved RNA interference (RNAi)-based therapeutic, Alnylam Pharmaceuticals Inc’s ALNY Onpattro (patisiran), indicated for a rare disorder.
The company’s lead program is Oligo A for alpha-1 antitrypsin deficiency (AATD), a rare genetic disorder mainly affecting the lungs and liver, leading to lung conditions and liver disease.
Price Action: KRRO shares are up 27% at $62.26, reflecting Korro Bio’s strong performance.