Korro Bio (NASDAQ:KRRO) Shares Down 5.7%

Korro Bio, Inc. (NASDAQ:KRRO) shares fell 5.7% during trading on Wednesday . The company traded as low as $63.10 and last traded at $64.07. 4,175 shares were traded during trading, a decline of 85% from the average session volume of 28,269 shares. The stock had previously closed at $67.94.

Analyst Upgrades and Downgrades

A number of research firms have commented on KRRO. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target on shares of Korro Bio in a research report on Wednesday, March 27th. HC Wainwright upped their price target on Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 price target on shares of Korro Bio in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada upped their price target on Korro Bio from $70.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, March 27th.

Korro Bio Trading Down 7.3 %

The company has a fifty day moving average of $64.24. The stock has a market cap of $505.18 million, a PE ratio of -0.72 and a beta of 2.18.

Insiders Place Their Bets

In related news, major shareholder Venture Opportunity Fund Atlas purchased 17,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average price of $56.00 per share, for a total transaction of $999,992.00. Following the purchase, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 16.80% of the company’s stock.

Institutional Trading of Korro Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlas Venture Life Science Advisors LLC purchased a new stake in shares of Korro Bio in the 4th quarter worth approximately $53,648,000. Eventide Asset Management LLC purchased a new stake in shares of Korro Bio in the 4th quarter worth approximately $26,185,000. 72 Investment Holdings LLC purchased a new stake in Korro Bio during the 4th quarter valued at $13,269,000. Monashee Investment Management LLC purchased a new stake in Korro Bio during the 4th quarter valued at $4,352,000. Finally, North Star Investment Management Corp. purchased a new stake in Korro Bio during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 13.18% of the company’s stock.

Korro Bio Company Profile

Korro Bio, Inc, a biopharmaceutical company, discovers, develops, and commercializes genetic medicines based on editing RNA for the treatment of rare and highly prevalent diseases. Korro Bio, Inc is based in Cambridge, Massachusetts.