Insider Buying: Korro Bio, Inc. (NASDAQ:KRRO) Major Shareholder Buys 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 shares were purchased at an average cost of $56.00 per share, for a total transaction of $999,992.00. Following the transaction, the insider now directly owns 195,074 shares in the company, valued at approximately $10,924,144. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Korro Bio Stock Performance

Shares of KRRO stock opened at $67.94 on Wednesday. Korro Bio, Inc. has a 1-year low of $9.15 and a 1-year high of $97.91. The company’s 50-day moving average is $64.24. The company has a market capitalization of $544.88 million, a P/E ratio of -0.72 and a beta of 2.18.

Institutional Investors Weigh In On Korro Bio

A number of institutional investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. bought a new stake in Korro Bio during the fourth quarter valued at about $48,000. Monashee Investment Management LLC bought a new stake in Korro Bio during the fourth quarter valued at about $4,352,000. 72 Investment Holdings LLC bought a new stake in Korro Bio during the fourth quarter valued at about $13,269,000. Eventide Asset Management LLC bought a new stake in Korro Bio during the fourth quarter valued at about $26,185,000. Finally, Atlas Venture Life Science Advisors LLC bought a new stake in Korro Bio during the fourth quarter valued at about $53,648,000. Institutional investors own 13.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on KRRO shares. Royal Bank of Canada increased their price target on Korro Bio from $70.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 27th. HC Wainwright increased their price target on Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. 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 Tuesday, March 26th.

Korro Bio Company Profile

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.