Korro Bio (NASDAQ:KRRO) Shares Down 4%

Korro Bio, Inc. (NASDAQ:KRRO) was down 4% on Thursday . The company traded as low as $66.06 and last traded at $66.52. Approximately 14,025 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 27,381 shares. The stock had previously closed at $69.30.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price objective on shares of Korro Bio in a research note on Wednesday, March 27th. 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. 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. Finally, 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.

Korro Bio Trading Down 9.1 %

The stock has a market capitalization of $505.02 million, a PE ratio of -0.74 and a beta of 2.18. The company has a fifty day simple moving average of $63.33.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Atlas Venture Life Science Advisors LLC bought a new position in shares of Korro Bio in the fourth quarter worth $53,648,000. Eventide Asset Management LLC bought a new position in shares of Korro Bio in the fourth quarter worth $26,185,000. 72 Investment Holdings LLC bought a new position in Korro Bio in the fourth quarter valued at $13,269,000. Vanguard Group Inc. bought a new position in Korro Bio in the fourth quarter valued at $12,988,000. Finally, Point72 Asset Management L.P. bought a new position in Korro Bio in the fourth quarter valued at $12,741,000. Institutional investors own 13.18% of the company’s stock.

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.