Korro Bio (NASDAQ:KRRO) Shares Gap Up to $54.66

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $54.66, but opened at $55.99. Korro Bio shares last traded at $54.56, with a volume of 16,888 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets restated an "outperform" rating and issued a $120.00 price objective on shares of Korro Bio in a report on Wednesday, May 15th. HC Wainwright reduced their price objective on shares of Korro Bio from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, May 15th. Royal Bank of Canada boosted their price objective on shares of Korro Bio from $70.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, March 27th. Finally, Piper Sandler restated an "overweight" rating and issued a $180.00 price objective on shares of Korro Bio in a report on Wednesday, March 27th.

Korro Bio Trading Down 0.1 %

The company has a 50 day moving average of $65.96.

Insider Buying and Selling

In other news, major shareholder Venture Opportunity Fund Atlas bought 17,857 shares of the business's stock in a transaction that occurred on Monday, April 22nd. The shares were purchased at an average cost of $56.00 per share, for a total transaction of $999,992.00. Following the completion of the purchase, the insider now owns 195,074 shares of the company's stock, valued at $10,924,144. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 16.80% of the company's stock.

Institutional Trading of Korro Bio

A number of large investors have recently made changes to their positions in the company. Atlas Venture Life Science Advisors LLC acquired a new position in Korro Bio in the fourth quarter valued at approximately $53,648,000. Eventide Asset Management LLC acquired a new position in Korro Bio in the fourth quarter valued at approximately $26,185,000. 72 Investment Holdings LLC acquired a new position in Korro Bio in the fourth quarter valued at approximately $13,269,000. Monashee Investment Management LLC acquired a new position in Korro Bio in the fourth quarter valued at approximately $4,352,000. Finally, North Star Investment Management Corp. acquired a new stake in shares of Korro Bio in the fourth quarter valued at approximately $48,000. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

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).