Korro Bio (NASDAQ:KRRO) Stock Price Down 4%

Korro Bio, Inc. (NASDAQ:KRRO) was down 4% during mid-day trading on Thursday . The stock traded as low as $66.06 and last traded at $66.52. Approximately 14,025 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 27,381 shares. The stock had previously closed at $69.30.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KRRO shares. Royal Bank of Canada upped their price objective on shares of Korro Bio from $70.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, March 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price on shares of Korro Bio in a report on Wednesday, March 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Korro Bio in a report on Tuesday, March 26th. Finally, HC Wainwright upped 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.

Korro Bio Stock Performance

The business has a fifty day moving average price of $63.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new position in Korro Bio during the fourth quarter worth about $12,988,000. Eventide Asset Management LLC acquired a new stake in shares of Korro Bio in the fourth quarter valued at approximately $26,185,000. 72 Investment Holdings LLC acquired a new stake in shares of Korro Bio in the fourth quarter valued at approximately $13,269,000. Point72 Asset Management L.P. acquired a new stake in shares of Korro Bio in the fourth quarter valued at approximately $12,741,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Korro Bio in the fourth quarter valued at approximately $2,784,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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.