Korro Bio (NASDAQ:KRRO) Shares Gap Up to $73.37

Shares of Korro Bio, Inc. (NASDAQ:KRRO) gapped up prior to trading on Wednesday . The stock had previously closed at $73.37, but opened at $75.22. Korro Bio shares last traded at $73.99, with a volume of 763 shares.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank of Canada boosted their price target 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. HC Wainwright upped their target price 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. Piper Sandler restated an “overweight” rating and set a $180.00 target price on shares of Korro Bio in a research report on Wednesday, March 27th. Finally, BMO Capital Markets restated an “outperform” rating and set a $120.00 target price on shares of Korro Bio in a research report on Tuesday, March 26th.

Korro Bio Stock Down 3.6 %

The stock has a market capitalization of $535.58 million, a P/E ratio of -0.71 and a beta of 2.18. The business has a 50-day moving average price of $63.49.

Institutional Trading of Korro Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. North Star Investment Management Corp. purchased a new stake in Korro Bio in the 4th quarter worth about $48,000. Tower Research Capital LLC TRC bought a new position in Korro Bio in the 4th quarter worth about $190,000. Northern Trust Corp bought a new position in Korro Bio in the 4th quarter worth about $504,000. Verition Fund Management LLC bought a new position in Korro Bio in the 4th quarter worth about $2,784,000. Finally, Monashee Investment Management LLC bought a new position in Korro Bio in the 4th quarter worth about $4,352,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

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.