Korro Bio (NASDAQ:KRRO) Shares Down 5.7%

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Piper Sandler reiterated an "overweight" rating and issued a $180.00 target price on shares of Korro Bio in a research report on Wednesday, March 27th. Royal Bank of Canada increased their target price on Korro Bio from $70.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, March 27th. HC Wainwright raised their price objective on Korro Bio from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 28th. Finally, BMO Capital Markets restated an "outperform" rating and set a $120.00 price objective on shares of Korro Bio in a research report on Tuesday, March 26th.

Korro Bio Stock Down 7.3 %

The company has a market cap of $505.18 million, a P/E ratio of -0.72 and a beta of 2.18. The company has a 50-day moving average price of $64.24.

Insider Transactions at Korro Bio

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

Institutional Investors Weigh In On Korro Bio

A number of hedge funds have recently added to or reduced their stakes in the company. Atlas Venture Life Science Advisors LLC bought a new position in shares of Korro Bio in the fourth quarter valued at approximately $53,648,000. Eventide Asset Management LLC bought a new position in shares of Korro Bio in the fourth quarter valued at approximately $26,185,000. 72 Investment Holdings LLC bought a new position in shares of Korro Bio in the fourth quarter valued at approximately $13,269,000. Monashee Investment Management LLC bought a new position in shares of Korro Bio in the fourth quarter valued at approximately $4,352,000. Finally, North Star Investment Management Corp. bought a new position in shares of Korro Bio in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 13.18% of the company's stock.

About Korro Bio

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.

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