Insider Selling: Korro Bio, Inc. (NASDAQ:KRRO) CFO Sells 800 Shares of Stock

Korro Bio, Inc. (NASDAQ:KRRO) CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Vineet Agarwal also recently made the following trade(s):

• On Thursday, October 17th, Vineet Agarwal sold 10,216 shares of Korro Bio stock. The stock was sold at an average price of $78.26, for a total value of $799,504.16.

Korro Bio Stock Performance

Shares of NASDAQ KRRO traded down $8.36 during midday trading on Tuesday, reaching $65.14. 168,078 shares of the stock were exchanged, compared to its average volume of 68,486. The stock has a 50 day moving average price of $49.10 and a 200-day moving average price of $46.85. Korro Bio, Inc. has a 52-week low of $30.00 and a 52-week high of $98.00.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Tuesday, August 13th. The company reported ($2.43) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.04). On average, equities analysts anticipate that Korro Bio, Inc. will post -10.02 earnings per share for the current year.

Hedge Funds Weigh In On Korro Bio

A number of institutional investors have recently bought and sold shares of the company. Quest Partners LLC increased its holdings in shares of Korro Bio by 172.1% during the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after purchasing an additional 1,124 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Korro Bio by 71.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock valued at $15,448,000 after purchasing an additional 190,259 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Korro Bio in the 2nd quarter valued at $3,958,000. Lynx1 Capital Management LP purchased a new position in shares of Korro Bio in the 2nd quarter worth about $129,000. Finally, Millennium Management LLC increased its position in shares of Korro Bio by 38.3% in the second quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock worth $2,852,000 after purchasing an additional 23,307 shares during the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. HC Wainwright increased their price target on shares of Korro Bio from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Raymond James assumed coverage on Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 target price on the stock. William Blair began coverage on shares of Korro Bio in a research report on Wednesday, August 14th. They issued an “outperform” rating and a $180.00 price objective for the company. Finally, Royal Bank of Canada raised their price target on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $142.17.

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).