Korro Bio (NASDAQ:KRRO) Receives Outperform Rating from BMO Capital Markets

Korro Bio (NASDAQ:KRRO - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at BMO Capital Markets in a report released on Wednesday, Benzinga reports. They currently have a $120.00 target price on the stock. BMO Capital Markets' target price would indicate a potential upside of 127.40% from the stock's current price.

A number of other research firms have also weighed in on KRRO. Royal Bank of Canada upped their target price on Korro Bio from $70.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, March 27th. Piper Sandler restated an "overweight" rating and set a $180.00 target price on shares of Korro Bio in a report on Wednesday, March 27th. Finally, HC Wainwright upped their target price on Korro Bio from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 28th.

Korro Bio Trading Up 5.4 %

Shares of NASDAQ KRRO traded up $2.72 during trading hours on Wednesday, reaching $52.77. The stock had a trading volume of 34,950 shares, compared to its average volume of 28,836. The firm has a market cap of $423.22 million, a price-to-earnings ratio of -0.55 and a beta of 2.28. The company has a fifty day moving average price of $65.90. Korro Bio has a 52-week low of $9.15 and a 52-week high of $97.91.

Insider Transactions at Korro Bio

In other Korro Bio news, major shareholder Venture Opportunity Fund Atlas purchased 17,857 shares of Korro Bio stock in a transaction dated 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 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 SEC, which is available at this link. Insiders own 16.80% of the company's stock.

Hedge Funds Weigh In On Korro Bio

Large investors have recently made changes to their positions in the business. North Star Investment Management Corp. acquired a new position in shares of Korro Bio in the 4th quarter valued at $48,000. 72 Investment Holdings LLC acquired a new position in shares of Korro Bio in the 4th quarter valued at $13,269,000. Eventide Asset Management LLC acquired a new position in shares of Korro Bio in the 4th quarter valued at $26,185,000. Monashee Investment Management LLC acquired a new position in shares of Korro Bio in the 4th quarter valued at $4,352,000. Finally, Atlas Venture Life Science Advisors LLC acquired a new position in shares of Korro Bio in the 4th quarter valued at $53,648,000. 13.18% of the stock is 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).