Insider Buying: Korro Bio, Inc. (NASDAQ:KRRO) Major Shareholder Acquires $999,992.00 in Stock

Korro Bio, Inc. (NASDAQ:KRRO) major shareholder Venture Opportunity Fund Atlas purchased 17,857 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average cost of $56.00 per share, for a total transaction of $999,992.00. Following the purchase, the insider now owns 195,074 shares in the company, valued at $10,924,144. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Korro Bio Price Performance

Korro Bio stock opened at $58.53 on Friday. The firm has a 50-day simple moving average of $64.50. The company has a market capitalization of $469.41 million, a PE ratio of -0.62 and a beta of 2.18. Korro Bio, Inc. has a 12-month low of $9.15 and a 12-month high of $97.91.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Korro Bio

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