Insider Selling: Korro Bio, Inc. (NASDAQ:KRRO) CFO Sells 10,216 Shares of Stock

Korro Bio, Inc. (NASDAQ:KRRO) CFO Vineet Agarwal sold 10,216 shares of the business’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 transaction of $799,504.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Korro Bio Stock Performance

Shares of KRRO stock traded up $0.03 on Friday, hitting $80.04. The stock had a trading volume of 160,650 shares, compared to its average volume of 63,133. The business has a 50 day moving average price of $41.33 and a 200 day moving average price of $47.86. Korro Bio, Inc. has a one year low of $9.15 and a one year high of $98.00.

Korro Bio (NASDAQ:KRRO) last released 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, equities research analysts forecast that Korro Bio, Inc. will post -10.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Korro Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRRO. Brown Brothers Harriman & Co. acquired a new position in Korro Bio in the second quarter valued at about $28,000. Lynx1 Capital Management LP purchased a new stake in shares of Korro Bio during the second quarter worth approximately $129,000. Rhumbline Advisers purchased a new stake in shares of Korro Bio during the second quarter worth approximately $279,000. Bank of New York Mellon Corp acquired a new position in Korro Bio in the second quarter valued at approximately $649,000. Finally, Tri Locum Partners LP acquired a new position in Korro Bio in the second quarter valued at approximately $2,419,000. Hedge funds and other 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).