Insider Selling: Korro Bio, Inc. (NASDAQ:KRRO) CFO Sells 10,216 Shares of Stock

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) CFO Vineet Agarwal sold 10,216 shares of the firm's stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Korro Bio Stock Performance

Korro Bio stock traded up $0.03 during midday trading on Friday, hitting $80.04. 160,650 shares of the stock were exchanged, compared to its average volume of 63,133. Korro Bio, Inc. has a 1 year low of $9.15 and a 1 year high of $98.00. The company has a 50 day moving average price of $41.33 and a two-hundred day moving average price of $47.86.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its 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). On average, research analysts forecast that Korro Bio, Inc. will post -10.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Korro Bio

Several hedge funds and other institutional investors have recently modified their holdings of KRRO. Brown Brothers Harriman & Co. bought a new stake in shares of Korro Bio in the 2nd quarter worth about $28,000. Lynx1 Capital Management LP acquired a new position in shares of Korro Bio in the 2nd quarter valued at about $129,000. Rhumbline Advisers acquired a new position in shares of Korro Bio in the 2nd quarter valued at about $279,000. Bank of New York Mellon Corp acquired a new position in shares of Korro Bio in the 2nd quarter valued at about $649,000. Finally, Tri Locum Partners LP acquired a new position in shares of Korro Bio in the 2nd quarter valued at about $2,419,000. Institutional investors own 13.18% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on KRRO shares. HC Wainwright raised their target price on shares of Korro Bio from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Friday. William Blair started coverage on shares of Korro Bio in a research note on Wednesday, August 14th. They issued an "outperform" rating and a $180.00 target price on the stock. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 target price on shares of Korro Bio in a research note on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $138.00.

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).

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