Korro Bio’s (KRRO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Korro Bio (NASDAQ:KRRO) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $100.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on KRRO. Royal Bank of Canada upped their price objective on shares of Korro Bio from $70.00 to $90.00 and gave the company an outperform rating in a research note on Wednesday, March 27th. Piper Sandler reissued an overweight rating and set a $180.00 price target on shares of Korro Bio in a research report on Wednesday, March 27th. Finally, BMO Capital Markets reissued an outperform rating and set a $120.00 price target on shares of Korro Bio in a research report on Wednesday, May 15th.

Korro Bio Stock Down 4.2 %

Shares of Korro Bio stock opened at $48.08 on Tuesday. Korro Bio has a 52-week low of $9.15 and a 52-week high of $97.91. The company has a fifty day moving average of $65.58 and a 200-day moving average of $55.00.

Insiders Place Their Bets

In related news, major shareholder Venture Opportunity Fund Atlas acquired 17,857 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $999,992.00. Following the acquisition, the insider now owns 195,074 shares of the company’s stock, valued at $10,924,144. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 16.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. North Star Investment Management Corp. bought a new position in shares of Korro Bio in the 4th quarter worth about $48,000. Monashee Investment Management LLC bought a new position in shares of Korro Bio in the 4th quarter worth about $4,352,000. 72 Investment Holdings LLC bought a new position in shares of Korro Bio in the 4th quarter worth about $13,269,000. Eventide Asset Management LLC bought a new position in shares of Korro Bio in the 4th quarter worth about $26,185,000. Finally, Atlas Venture Life Science Advisors LLC bought a new position in shares of Korro Bio in the 4th quarter worth about $53,648,000. 13.18% of the stock is currently owned by 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).