Korro Bio (NASDAQ:KRRO) Trading Down 2.9% – What’s Next?

Korro Bio, Inc. (NASDAQ:KRRO)’s share price was down 2.9% during mid-day trading on Thursday . The stock traded as low as $28.28 and last traded at $28.65. Approximately 49,281 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 77,342 shares. The stock had previously closed at $29.50.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a research note on Friday, November 22nd. Oppenheimer initiated coverage on Korro Bio in a research note on Friday, January 10th. They set an “outperform” rating and a $155.00 target price on the stock. Finally, William Blair reissued an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Korro Bio presently has a consensus rating of “Buy” and a consensus target price of $144.00.

Korro Bio Trading Down 2.9 %

The stock’s 50-day moving average is $37.76 and its two-hundred day moving average is $44.27.

Hedge Funds Weigh In On Korro Bio

Several hedge funds and other institutional investors have recently modified their holdings of KRRO. KLP Kapitalforvaltning AS bought a new stake in shares of Korro Bio in the fourth quarter worth $53,000. Quest Partners LLC boosted its position in Korro Bio by 172.1% in the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after purchasing an additional 1,124 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Korro Bio by 23.2% during the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock valued at $83,000 after purchasing an additional 412 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Korro Bio by 251.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,854 shares of the company’s stock valued at $95,000 after purchasing an additional 2,041 shares during the period. Finally, Vestcor Inc purchased a new stake in shares of Korro Bio during the 3rd quarter valued at about $100,000. 13.18% of the stock is owned by institutional investors.

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).