Korro Bio (NASDAQ:KRRO) Sees Large Volume Increase - Still a Buy?

Shares of Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) saw strong trading volume on Wednesday . 108,785 shares traded hands during trading, an increase of 68% from the previous session's volume of 64,935 shares.The stock last traded at $64.63 and had previously closed at $70.02.

Analysts Set New Price Targets

A number of analysts have commented on the stock. 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 research report on Friday, October 18th. Raymond James started coverage on Korro Bio in a research report on Monday. They set a "strong-buy" rating and a $153.00 target price on the stock. William Blair began coverage on Korro Bio in a report on Wednesday, August 14th. They issued an "outperform" rating and a $180.00 target price for the company. Finally, Royal Bank of Canada increased their price target on Korro Bio from $95.00 to $105.00 and gave the stock an "outperform" rating in a report on Monday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $142.17.

Korro Bio Stock Down 3.2 %

The firm has a fifty day simple moving average of $44.28 and a 200-day simple moving average of $47.52.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.39) by ($0.04). On average, equities analysts expect that Korro Bio, Inc. will post -10.09 EPS for the current year.

Insider Transactions at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of the firm's stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total value of $799,504.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 16.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Korro Bio

A number of institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new stake in shares of Korro Bio during the 2nd quarter worth $28,000. Lynx1 Capital Management LP purchased a new stake in Korro Bio during the second quarter worth about $129,000. Rhumbline Advisers bought a new stake in Korro Bio in the second quarter worth about $279,000. Atlas Venture Life Science Advisors LLC boosted its stake in Korro Bio by 1.6% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company's stock valued at $38,515,000 after acquiring an additional 17,857 shares during the last quarter. Finally, NEA Management Company LLC grew its position in shares of Korro Bio by 1.7% during the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company's stock valued at $36,945,000 after acquiring an additional 17,857 shares during the period. 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).