Shares of Korro Bio, Inc. (NASDAQ:KRRO – Get Free Report) were up 10.9% on Thursday . The stock traded as high as $76.79 and last traded at $73.92. Approximately 26,924 shares were traded during trading, a decline of 60% from the average daily volume of 67,017 shares. The stock had previously closed at $66.63.
Wall Street Analysts Forecast Growth
KRRO has been the topic of several recent research reports. William Blair initiated coverage on Korro Bio in a report on Wednesday, August 14th. They issued an “outperform” rating and a $180.00 price target on the stock. Royal Bank of Canada lifted their price target on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. HC Wainwright boosted their target price on shares of Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Raymond James began coverage on Korro Bio in a report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 target price for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $142.17.
Get Our Latest Research Report on Korro Bio
Korro Bio Stock Performance
Korro Bio (NASDAQ:KRRO – Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.04). On average, equities analysts expect that Korro Bio, Inc. will post -10.02 EPS for the current year.
Insider Activity at Korro Bio
In other Korro Bio news, CFO Vineet Agarwal sold 10,216 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.40% of the stock is owned by insiders.
Institutional Investors Weigh In On Korro Bio
Several hedge funds have recently modified their holdings of KRRO. Atlas Venture Life Science Advisors LLC lifted its holdings in Korro Bio by 1.6% during the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock worth $38,515,000 after buying an additional 17,857 shares during the period. NEA Management Company LLC boosted its holdings in Korro Bio by 1.7% in the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after acquiring an additional 17,857 shares during the last quarter. Point72 Asset Management L.P. increased its position in Korro Bio by 71.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock valued at $15,448,000 after purchasing an additional 190,259 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Korro Bio in the 2nd quarter valued at $3,958,000. Finally, Millennium Management LLC raised its stake in Korro Bio by 38.3% during the second quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock worth $2,852,000 after buying an additional 23,307 shares during the last quarter. 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).
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