Korro Bio (NASDAQ:KRRO) Shares Gap Up to $73.37

Korro Bio, Inc. (NASDAQ:KRRO) gapped up before the market opened on Wednesday . The stock had previously closed at $73.37, but opened at $75.22. Korro Bio shares last traded at $73.99, with a volume of 763 shares trading hands.

Wall Street Analyst Weigh In

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

Korro Bio Stock Down 3.6 %

The stock’s fifty day moving average price is $63.49. The stock has a market cap of $535.58 million, a P/E ratio of -0.71 and a beta of 2.18.

Hedge Funds Weigh In On Korro Bio

Several large investors have recently made changes to their positions in KRRO. North Star Investment Management Corp. acquired a new position in shares of Korro Bio in the 4th quarter worth approximately $48,000. Tower Research Capital LLC TRC acquired a new position in shares of Korro Bio in the 4th quarter worth approximately $190,000. Northern Trust Corp acquired a new position in shares of Korro Bio in the 4th quarter worth approximately $504,000. Verition Fund Management LLC acquired a new position in shares of Korro Bio in the 4th quarter worth approximately $2,784,000. Finally, Monashee Investment Management LLC acquired a new position in shares of Korro Bio in the 4th quarter worth approximately $4,352,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Korro Bio Company Profile

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.