Korro Bio (NASDAQ:KRRO) Sees Large Volume Increase – Here’s Why

Shares of Korro Bio, Inc. (NASDAQ:KRRO) saw unusually-high trading volume on Thursday . Approximately 47,617 shares traded hands during trading, a decline of 22% from the previous session’s volume of 60,954 shares.The stock last traded at $79.89 and had previously closed at $77.00.

Wall Street Analysts Forecast Growth

KRRO has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Korro Bio in a report on Thursday, September 19th. William Blair started coverage on shares of Korro Bio in a research report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Korro Bio in a research report on Tuesday, September 17th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $135.00.

Korro Bio Trading Up 5.2 %

The firm has a fifty day moving average price of $40.45 and a 200 day moving average price of $47.63.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.04). As a group, sell-side analysts expect that Korro Bio, Inc. will post -10.09 earnings per share for the current year.

Institutional Trading of Korro Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlas Venture Life Science Advisors LLC increased its stake in shares of Korro Bio by 1.6% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock valued at $38,515,000 after purchasing an additional 17,857 shares in the last quarter. NEA Management Company LLC increased its position in shares of Korro Bio by 1.7% in the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after buying an additional 17,857 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Korro Bio by 71.6% in the second quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock valued at $15,448,000 after buying an additional 190,259 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Korro Bio during the 2nd quarter worth approximately $3,958,000. Finally, Millennium Management LLC lifted its position in shares of Korro Bio by 38.3% during the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock valued at $2,852,000 after buying an additional 23,307 shares in the last quarter. Institutional investors and hedge funds own 13.18% of the company’s stock.

About Korro Bio

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).