Korro Bio (NASDAQ:KRRO) Trading Down 5.7%

Korro Bio, Inc. (NASDAQ:KRRO)’s share price dropped 5.7% during mid-day trading on Wednesday . The stock traded as low as $63.10 and last traded at $64.07. Approximately 4,175 shares were traded during trading, a decline of 85% from the average daily volume of 28,269 shares. The stock had previously closed at $67.94.

Wall Street Analyst Weigh In

KRRO has been the subject of several research analyst reports. HC Wainwright lifted their target price on shares of Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Royal Bank of Canada lifted their target price on shares of Korro Bio from $70.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, March 27th. BMO Capital Markets reiterated an “outperform” rating and set a $120.00 target price on shares of Korro Bio in a research report on Tuesday, March 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $180.00 price target on shares of Korro Bio in a research note on Wednesday, March 27th.

Korro Bio Stock Up 7.5 %

The business’s 50-day simple moving average is $64.71. The company has a market capitalization of $504.70 million, a price-to-earnings ratio of -0.67 and a beta of 2.18.

Insider Buying and Selling at Korro Bio

In related news, major shareholder Venture Opportunity Fund Atlas acquired 17,857 shares of Korro Bio stock in a transaction on Monday, April 22nd. The shares were acquired at an average cost of $56.00 per share, with a total value of $999,992.00. Following the transaction, the insider now owns 195,074 shares in the company, valued at $10,924,144. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Korro Bio

Hedge funds have recently bought and sold shares of the company. North Star Investment Management Corp. bought a new position in Korro Bio in the 4th quarter worth about $48,000. Monashee Investment Management LLC bought a new position in Korro Bio in the 4th quarter worth about $4,352,000. 72 Investment Holdings LLC bought a new position in Korro Bio in the 4th quarter worth about $13,269,000. Eventide Asset Management LLC bought a new position in Korro Bio in the 4th quarter worth about $26,185,000. Finally, Atlas Venture Life Science Advisors LLC bought a new position in Korro Bio in the 4th quarter worth about $53,648,000. Institutional investors own 13.18% of the company’s stock.

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).