Insider Buying: Korro Bio, Inc. (NASDAQ:KRRO) Major Shareholder Purchases 17,857 Shares of Stock

Korro Bio, Inc. (NASDAQ:KRRO) major shareholder Venture Opportunity Fund Atlas purchased 17,857 shares of the company’s 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 completion of the purchase, the insider now directly owns 195,074 shares in the company, valued at approximately $10,924,144. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 7.1 %

Shares of KRRO stock opened at $58.53 on Friday. Korro Bio, Inc. has a 1-year low of $9.15 and a 1-year high of $97.91. The firm has a market capitalization of $469.41 million, a PE ratio of -0.62 and a beta of 2.18. The company has a 50-day moving average of $64.50.

Institutional Trading of Korro Bio

Several institutional investors have recently added to or reduced their stakes in KRRO. North Star Investment Management Corp. bought a new position in Korro Bio during the 4th quarter worth approximately $48,000. Monashee Investment Management LLC acquired a new stake in shares of Korro Bio during the fourth quarter worth $4,352,000. 72 Investment Holdings LLC bought a new position in Korro Bio during the fourth quarter worth $13,269,000. Eventide Asset Management LLC acquired a new position in Korro Bio in the fourth quarter valued at $26,185,000. Finally, Atlas Venture Life Science Advisors LLC bought a new stake in Korro Bio during the fourth quarter valued at $53,648,000. 13.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KRRO. Royal Bank of Canada upped their target price on Korro Bio from $70.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, March 27th. HC Wainwright upped their price objective on Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. BMO Capital Markets reiterated an “outperform” rating and issued a $120.00 price objective on shares of Korro Bio in a report on Tuesday, March 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $180.00 target price on shares of Korro Bio in a report 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.