Korro Bio (NASDAQ:KRRO) Trading Down 5.1% - Time to Sell?

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report)'s stock price was down 5.1% on Monday . The stock traded as low as $64.67 and last traded at $64.67. Approximately 20,334 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 65,159 shares. The stock had previously closed at $68.15.

Analyst Ratings Changes

Several analysts have recently weighed in on KRRO shares. Raymond James started coverage on shares of Korro Bio in a report on Monday, October 21st. They issued a "strong-buy" rating and a $153.00 target price on the stock. Royal Bank of Canada upped 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. HC Wainwright upped their price target on shares of Korro Bio from $100.00 to $115.00 and gave the company a "buy" rating in a report on Friday, October 18th. Finally, William Blair initiated coverage on shares of Korro Bio in a report on Wednesday, August 14th. They issued an "outperform" rating and a $180.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $142.17.

Korro Bio Stock Performance

The firm's 50 day moving average is $45.23 and its 200-day moving average is $47.22.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($2.43) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.04). As a group, research analysts forecast that Korro Bio, Inc. will post -10.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vineet Agarwal sold 10,216 shares of the company's stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Korro Bio

Large investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new stake in shares of Korro Bio in the second quarter worth $28,000. Lynx1 Capital Management LP acquired a new stake in shares of Korro Bio in the second quarter worth $129,000. Rhumbline Advisers acquired a new stake in shares of Korro Bio in the second quarter worth $279,000. Bank of New York Mellon Corp acquired a new stake in shares of Korro Bio in the second quarter worth $649,000. Finally, Tri Locum Partners LP acquired a new stake in shares of Korro Bio in the second quarter worth $2,419,000. Institutional investors and hedge funds 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).

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