Korro Bio (NASDAQ:KRRO) Shares Gap Up to $58.53

Korro Bio, Inc. (NASDAQ:KRRO) shares gapped up prior to trading on Monday . The stock had previously closed at $58.53, but opened at $62.93. Korro Bio shares last traded at $62.93, with a volume of 621 shares changing hands.

Wall Street Analysts Forecast Growth

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

Korro Bio Stock Down 0.1 %

The firm has a market capitalization of $504.38 million, a P/E ratio of -0.67 and a beta of 2.18. The company has a fifty day moving average of $64.71.

Insider Buying and Selling

In other news, major shareholder Venture Opportunity Fund Atlas purchased 17,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average cost of $56.00 per share, for a total transaction of $999,992.00. Following the completion of the acquisition, the insider now owns 195,074 shares in the company, valued at $10,924,144. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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).