Korro Bio (NASDAQ:KRRO) Sees Unusually-High Trading Volume – Still a Buy?

Korro Bio, Inc. (NASDAQ:KRRO) saw unusually-strong trading volume on Thursday . Approximately 47,617 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 60,954 shares.The stock last traded at $79.89 and had previously closed at $77.00.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KRRO shares. William Blair started coverage on shares of Korro Bio in a report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Korro Bio in a research note on Thursday, September 19th. Finally, HC Wainwright upped their target price on shares of Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $138.00.

Korro Bio Trading Up 0.0 %

The business’s fifty day simple moving average is $42.25 and its 200-day simple moving average is $47.79.

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

Insider Transactions at Korro Bio

In related news, CFO Vineet Agarwal sold 10,216 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is available through this link. Insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

Large investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. bought a new position in Korro Bio during the second quarter valued at $28,000. Lynx1 Capital Management LP purchased a new stake in Korro Bio during the second quarter valued at approximately $129,000. Rhumbline Advisers bought a new stake in shares of Korro Bio in the 2nd quarter valued at approximately $279,000. Bank of New York Mellon Corp purchased a new position in shares of Korro Bio in the 2nd quarter worth approximately $649,000. Finally, Tri Locum Partners LP purchased a new position in Korro Bio during the second quarter worth $2,419,000. Institutional investors own 13.18% of the company’s stock.

Korro Bio Company Profile

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).