Korro Bio (NASDAQ:KRRO) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a research report released on Tuesday, Benzinga reports. They currently have a $100.00 price target on the stock.

Several other research analysts have also commented on KRRO. Royal Bank of Canada lifted their price objective 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 target price on shares of Korro Bio in a research note on Wednesday, May 15th. Finally, Piper Sandler reissued an overweight rating and set a $180.00 target price on shares of Korro Bio in a research note on Wednesday, March 27th.

Korro Bio Stock Down 4.2 %

NASDAQ KRRO opened at $48.08 on Tuesday. The company has a fifty day moving average of $65.58 and a two-hundred day moving average of $55.00. Korro Bio has a 52 week low of $9.15 and a 52 week high of $97.91.

Insider Buying and Selling

In other Korro Bio news, major shareholder Venture Opportunity Fund Atlas acquired 17,857 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average cost 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 in the company, valued at $10,924,144. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.80% of the stock is owned by insiders.

Institutional Trading of Korro Bio

A number of hedge funds have recently added to or reduced their stakes in KRRO. Atlas Venture Life Science Advisors LLC bought a new position in Korro Bio in the fourth quarter worth about $53,648,000. Eventide Asset Management LLC bought a new position in Korro Bio in the fourth quarter worth about $26,185,000. 72 Investment Holdings LLC bought a new position in Korro Bio in the fourth quarter worth about $13,269,000. Monashee Investment Management LLC bought a new position in Korro Bio in the fourth quarter worth about $4,352,000. Finally, North Star Investment Management Corp. bought a new position in Korro Bio in the fourth quarter worth about $48,000. 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).