Korro Bio (NASDAQ:KRRO) Sees Unusually-High Trading Volume – What’s Next?

Korro Bio, Inc. (NASDAQ:KRRO) shares saw unusually-high trading volume on Wednesday . Approximately 108,785 shares were traded 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 brokerages recently issued reports on KRRO. Royal Bank of Canada upped their price target on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday. 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 Friday, October 18th. William Blair initiated coverage on shares of Korro Bio in a research report on Wednesday, August 14th. They issued an “outperform” rating and a $180.00 target price on the stock. Finally, Raymond James started coverage on shares of Korro Bio in a research report on Monday. They issued a “strong-buy” rating and a $153.00 price target for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $142.17.

Korro Bio Stock Down 4.1 %

The company’s fifty day moving average price is $43.72 and its two-hundred day moving average price is $47.38.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). As a group, sell-side analysts expect that Korro Bio, Inc. will post -10.09 EPS for the current year.

Insider Activity at Korro Bio

In related news, CFO Vineet Agarwal sold 10,216 shares of the company’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 legal filing with the SEC, which is available at this link. Company insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

Several institutional investors and hedge funds have recently made changes to their positions in KRRO. Brown Brothers Harriman & Co. purchased a new position in Korro Bio during the second quarter worth $28,000. Lynx1 Capital Management LP acquired a new position in Korro Bio during the second quarter worth approximately $129,000. Rhumbline Advisers purchased a new position in shares of Korro Bio in the 2nd quarter worth $279,000. Bank of New York Mellon Corp acquired a new position in Korro Bio in the second quarter valued at $649,000. Finally, Tri Locum Partners LP purchased a new stake in Korro Bio during the second quarter valued at about $2,419,000. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

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).