Korro Bio (NASDAQ:KRRO) Shares Gap Up to $58.53

Korro Bio, Inc. (NASDAQ:KRRO) gapped up before the market opened on Monday . The stock had previously closed at $58.53, but opened at $62.93. Korro Bio shares last traded at $62.93, with a volume of 621 shares trading hands.

Analysts Set New Price Targets

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

Korro Bio Price Performance

The stock has a market capitalization of $504.38 million, a price-to-earnings ratio of -0.67 and a beta of 2.18. The firm has a 50-day simple moving average of $64.71.

Insider Transactions at Korro Bio

In other Korro Bio news, major shareholder Venture Opportunity Fund Atlas purchased 17,857 shares of Korro Bio stock in a transaction on Monday, April 22nd. The shares were bought at an average price of $56.00 per share, with a total value of $999,992.00. Following the completion of the acquisition, the insider now directly owns 195,074 shares of the company’s stock, valued at $10,924,144. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

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

Korro Bio Company Profile

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).