Korro Bio (NASDAQ:KRRO) Shares Down 2.9% – Time to Sell?

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

Analyst Upgrades and Downgrades

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

Korro Bio Trading Down 8.2 %

The firm’s fifty day moving average is $37.04 and its 200-day moving average is $44.08.

Institutional Trading of Korro Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Woodline Partners LP bought a new stake in shares of Korro Bio in the 4th quarter worth $3,887,000. Point72 Asset Management L.P. grew its stake in shares of Korro Bio by 11.0% in the 4th quarter. Point72 Asset Management L.P. now owns 493,997 shares of the company’s stock worth $18,806,000 after acquiring an additional 49,147 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in shares of Korro Bio in the 4th quarter worth $2,855,000. Nuveen Asset Management LLC grew its stake in shares of Korro Bio by 153.4% in the 4th quarter. Nuveen Asset Management LLC now owns 28,295 shares of the company’s stock worth $1,077,000 after acquiring an additional 17,131 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new stake in shares of Korro Bio in the 4th quarter worth $1,233,000. Institutional investors own 13.18% of the company’s stock.

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).