Korro Bio (NASDAQ:KRRO) Shares Gap Down to $66.78

Shares of Korro Bio, Inc. (NASDAQ:KRRO) gapped down prior to trading on Friday . The stock had previously closed at $66.78, but opened at $65.25. Korro Bio shares last traded at $67.00, with a volume of 4,958 shares.

Wall Street Analyst Weigh In

A number of brokerages have commented on KRRO. HC Wainwright increased their target price on Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 28th. BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 target price on shares of Korro Bio in a report on Tuesday, March 26th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price on shares of Korro Bio in a research report on Wednesday, March 27th. Finally, Royal Bank of Canada boosted their price target on shares of Korro Bio from $70.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 27th.

Korro Bio Price Performance

The company has a market cap of $522.82 million, a P/E ratio of -0.71 and a beta of 2.18. The business’s fifty day simple moving average is $63.49.

Hedge Funds Weigh In On Korro Bio

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of Korro Bio in the 4th quarter valued at approximately $12,988,000. Eventide Asset Management LLC acquired a new position in Korro Bio in the fourth quarter valued at approximately $26,185,000. 72 Investment Holdings LLC purchased a new position in Korro Bio in the fourth quarter worth approximately $13,269,000. Point72 Asset Management L.P. purchased a new position in Korro Bio in the fourth quarter worth approximately $12,741,000. Finally, Verition Fund Management LLC acquired a new stake in Korro Bio during the fourth quarter worth $2,784,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

About Korro Bio

Korro Bio, Inc, a biopharmaceutical company, discovers, develops, and commercializes genetic medicines based on editing RNA for the treatment of rare and highly prevalent diseases. Korro Bio, Inc is based in Cambridge, Massachusetts.