Korro Bio (NASDAQ:KRRO) Price Target Lowered to $100.00 at HC Wainwright

Korro Bio (NASDAQ:KRRO - Get Free Report) had its price target cut by equities researchers at HC Wainwright from $115.00 to $100.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective would suggest a potential upside of 89.50% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada raised their price target on shares of Korro Bio from $70.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 27th. BMO Capital Markets reissued an "outperform" rating and set a $120.00 price target on shares of Korro Bio in a research report on Wednesday. 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 Price Performance

Shares of KRRO stock traded up $2.72 on Wednesday, hitting $52.77. 34,945 shares of the stock were exchanged, compared to its average volume of 28,836. The stock has a market cap of $423.22 million, a price-to-earnings ratio of -0.55 and a beta of 2.28. Korro Bio has a fifty-two week low of $9.15 and a fifty-two week high of $97.91. The business has a 50-day moving average of $65.90.

Insider Transactions at Korro Bio

In other Korro Bio news, major shareholder Venture Opportunity Fund Atlas bought 17,857 shares of Korro Bio stock in a transaction dated Monday, April 22nd. The stock was bought at an average price of $56.00 per share, with a total value of $999,992.00. Following the completion of the transaction, the insider now owns 195,074 shares in the company, valued at approximately $10,924,144. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 16.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Korro Bio

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

Korro Bio Company Profile

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).