Korro Bio price target raised to $115 from $100 at H.C. Wainwright

H.C. Wainwright analyst Mitchell Kapoor raised the firm’s price target on Korro Bio (KRRO) to $115 from $100 and keeps a Buy rating on the shares. Following the positive clinical data for a competing RNA editing approach from Wave Life Sciences (WVE), the firm increased its probability of KRRO-110 approval to 35% from 25%. Korro management believes that KRRO-110’s profile suggests that treatment may lead to faster efficacy, which should drive faster enrollment rates, further narrowing the gap versus the competition, the analyst tells investors in a research note.