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 Korro Bio stock in a transaction dated Monday, April 22nd. The stock was acquired at an average price of $56.00 per share, for a total transaction of $999,992.00. Following the completion of the transaction, the insider now owns 195,074 shares in the company, valued at approximately $10,924,144. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Korro Bio Stock Performance

Korro Bio stock traded down $0.44 during mid-day trading on Tuesday, hitting $67.94. 70,404 shares of the company’s stock traded hands, compared to its average volume of 28,582. Korro Bio, Inc. has a one year low of $9.15 and a one year high of $97.91. The firm has a market cap of $544.88 million, a P/E ratio of -0.72 and a beta of 2.18. The company has a 50 day moving average price of $63.96.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Korro Bio

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

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.