Korro Bio (NASDAQ:KRRO) Trading 6.1% Higher – Time to Buy?

Shares of Korro Bio, Inc. (NASDAQ:KRRO) traded up 6.1% during mid-day trading on Monday . The stock traded as high as $55.39 and last traded at $55.25. 9,618 shares changed hands during trading, a decline of 86% from the average session volume of 70,157 shares. The stock had previously closed at $52.06.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KRRO. William Blair reissued an “outperform” rating on shares of Korro Bio in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $115.00 price objective on shares of Korro Bio in a report on Friday, November 22nd. Royal Bank of Canada boosted their price target on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Raymond James assumed coverage on shares of Korro Bio in a research note on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $142.17.

Korro Bio Stock Down 4.1 %

The firm’s fifty day moving average is $52.45 and its 200-day moving average is $46.48.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.55) by $0.29. Equities analysts expect that Korro Bio, Inc. will post -9.63 EPS for the current year.

Insiders Place Their Bets

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Korro Bio

Several hedge funds and other institutional investors have recently made changes to their positions in KRRO. Brown Brothers Harriman & Co. purchased a new position in shares of Korro Bio during the second quarter worth $28,000. Quest Partners LLC increased its holdings in shares of Korro Bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after purchasing an additional 1,124 shares in the last quarter. Vestcor Inc acquired a new stake in Korro Bio in the 3rd quarter valued at about $100,000. MetLife Investment Management LLC lifted its holdings in Korro Bio by 129.0% in the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after purchasing an additional 2,050 shares in the last quarter. Finally, Lynx1 Capital Management LP acquired a new stake in shares of Korro Bio in the second quarter worth approximately $129,000. Hedge funds and other institutional investors own 13.18% of the company’s stock.

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).