Korro Bio (NASDAQ:KRRO) Trading Down 2.9% – Time to Sell?

Korro Bio, Inc. (NASDAQ:KRRO) shares dropped 2.9% during trading on Thursday . The company traded as low as $28.28 and last traded at $28.65. Approximately 49,281 shares changed hands during trading, a decline of 36% from the average daily volume of 77,342 shares. The stock had previously closed at $29.50.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. William Blair reissued an “outperform” rating on shares of Korro Bio in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $115.00 price objective on shares of Korro Bio in a research report on Friday, November 22nd. Finally, Oppenheimer assumed coverage on shares of Korro Bio in a research report on Friday, January 10th. They issued an “outperform” rating and a $155.00 target price for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Korro Bio presently has a consensus rating of “Buy” and an average price target of $144.00.

Korro Bio Trading Down 2.9 %

The firm has a 50-day simple moving average of $37.76 and a 200 day simple moving average of $44.27.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of KRRO. KLP Kapitalforvaltning AS purchased a new position in shares of Korro Bio during the fourth quarter valued at approximately $53,000. Quest Partners LLC increased its position in Korro Bio by 172.1% during the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after buying an additional 1,124 shares in the last quarter. AlphaQuest LLC increased its position in Korro Bio by 23.2% during the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock valued at $83,000 after buying an additional 412 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Korro Bio by 251.0% during the third quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company’s stock valued at $95,000 after buying an additional 2,041 shares during the last quarter. Finally, Vestcor Inc bought a new stake in Korro Bio in the third quarter worth $100,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

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).