Korro Bio, Inc. (NASDAQ:KRRO) Major Shareholder Buys $999,992.00 in Stock

Korro Bio, Inc. (NASDAQ:KRRO) major shareholder Venture Opportunity Fund Atlas bought 17,857 shares of Korro Bio stock in a transaction dated Monday, April 22nd. The stock was purchased at an average cost of $56.00 per share, with a total value of $999,992.00. Following the completion of the acquisition, the insider now directly owns 195,074 shares in the company, valued at approximately $10,924,144. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Korro Bio Trading Down 0.6 %

NASDAQ KRRO traded down $0.44 during trading hours on Tuesday, hitting $67.94. 70,404 shares of the stock were exchanged, compared to its average volume of 28,582. The company has a market cap of $544.88 million, a P/E ratio of -0.72 and a beta of 2.18. Korro Bio, Inc. has a 12-month low of $9.15 and a 12-month high of $97.91. The stock has a 50-day moving average of $63.96.

Institutional Trading of Korro Bio

Hedge funds have recently modified their holdings of the business. Atlas Venture Life Science Advisors LLC purchased a new position in Korro Bio in the fourth quarter worth $53,648,000. Eventide Asset Management LLC purchased a new position in shares of Korro Bio in the 4th quarter valued at about $26,185,000. 72 Investment Holdings LLC acquired a new stake in shares of Korro Bio in the fourth quarter valued at about $13,269,000. Monashee Investment Management LLC purchased a new stake in Korro Bio during the fourth quarter worth about $4,352,000. Finally, North Star Investment Management Corp. acquired a new position in Korro Bio during the fourth quarter worth about $48,000. 13.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KRRO shares. BMO Capital Markets reiterated an “outperform” rating and issued a $120.00 price objective on shares of Korro Bio in a research note on Tuesday, March 26th. Piper Sandler reissued an “overweight” rating and set a $180.00 price objective on shares of Korro Bio in a research report on Wednesday, March 27th. HC Wainwright increased their target price 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. Finally, Royal Bank of Canada upped their price objective on Korro Bio from $70.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, March 27th.

About Korro Bio

Korro Bio, Inc, a biopharmaceutical company, discovers, develops, and commercializes genetic medicines based on editing RNA for the treatment of rare and highly prevalent diseases. Korro Bio, Inc is based in Cambridge, Massachusetts.