Korro Bio (NASDAQ:KRRO) Shares Up 15.7%

Korro Bio, Inc. (NASDAQ:KRRO) shares shot up 15.7% during trading on Wednesday . The stock traded as high as $38.96 and last traded at $38.32. 50,533 shares changed hands during trading, an increase of 6% from the average session volume of 47,501 shares. The stock had previously closed at $33.11.

Analyst Upgrades and Downgrades

Several research firms have commented on KRRO. Piper Sandler restated an “overweight” rating and set a $180.00 price objective on shares of Korro Bio in a report on Wednesday, March 27th. BMO Capital Markets restated an “outperform” rating and set a $120.00 price objective on shares of Korro Bio in a report on Wednesday, May 15th. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Korro Bio in a report on Tuesday, May 21st. Finally, Royal Bank of Canada raised their price objective on Korro Bio from $70.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, March 27th.

Korro Bio Trading Up 15.7 %

The firm has a 50-day simple moving average of $47.47 and a 200-day simple moving average of $54.29.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, May 14th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.36) by ($0.08). On average, equities research analysts forecast that Korro Bio, Inc. will post -9.64 earnings per share for the current fiscal year.

Insider Transactions at Korro Bio

In other Korro Bio news, major shareholder Venture Opportunity Fund Atlas acquired 17,857 shares of the stock in a transaction dated Monday, April 22nd. The stock was purchased at an average price of $56.00 per share, with a total value of $999,992.00. Following the transaction, the insider now directly owns 195,074 shares of the company’s stock, valued at $10,924,144. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 16.80% of the company’s stock.

Institutional Trading of Korro Bio

A number of institutional investors have recently made changes to their positions in the business. Monashee Investment Management LLC acquired a new stake in shares of Korro Bio in the 4th quarter worth $4,352,000. 72 Investment Holdings LLC acquired a new stake in Korro Bio during the 4th quarter worth about $13,269,000. Eventide Asset Management LLC acquired a new stake in Korro Bio during the 4th quarter worth about $26,185,000. Finally, Atlas Venture Life Science Advisors LLC acquired a new stake in Korro Bio during the 4th quarter worth about $53,648,000. Institutional investors and hedge funds own 13.18% of the company’s stock.

About Korro Bio

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).