Korro Bio's (KRRO) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Korro Bio (NASDAQ:KRRO - Free Report) in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a $100.00 price target on the stock.

Several other research analysts have also issued reports on the company. Royal Bank of Canada upped 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. Piper Sandler reaffirmed an overweight rating and set a $180.00 target price on shares of Korro Bio in a research report on Wednesday, March 27th. Finally, BMO Capital Markets reissued an outperform rating and issued a $120.00 price objective on shares of Korro Bio in a report on Wednesday, May 15th.

Korro Bio Price Performance

NASDAQ:KRRO traded down $3.80 during mid-day trading on Tuesday, hitting $50.80. 59,163 shares of the company's stock traded hands, compared to its average volume of 29,641. The stock has a fifty day moving average of $65.87. Korro Bio has a twelve month low of $9.15 and a twelve month high of $97.91.

Insider Transactions at Korro Bio

In related news, major shareholder Venture Opportunity Fund Atlas bought 17,857 shares of the stock in a transaction dated Monday, April 22nd. The shares were purchased at an average price of $56.00 per share, for a total transaction 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 $10,924,144. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 16.80% of the company's stock.

Institutional Trading of Korro Bio

A number of hedge funds have recently modified their holdings of KRRO. North Star Investment Management Corp. purchased a new stake in shares of Korro Bio in the fourth quarter worth about $48,000. Monashee Investment Management LLC purchased a new position in Korro Bio during the fourth quarter worth approximately $4,352,000. 72 Investment Holdings LLC purchased a new position in Korro Bio during the fourth quarter worth approximately $13,269,000. Eventide Asset Management LLC purchased a new position in Korro Bio during the fourth quarter worth approximately $26,185,000. Finally, Atlas Venture Life Science Advisors LLC purchased a new position in Korro Bio during the fourth quarter worth approximately $53,648,000. Hedge funds and other institutional investors own 13.18% of the company's stock.

Korro Bio Company Profile

Korro Bio, Inc, a biopharmaceutical company, 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).