Korro Bio (NASDAQ:KRRO) Shares Gap Up to $73.37

Shares of Korro Bio, Inc. (NASDAQ:KRRO) gapped up before the market opened on Wednesday . The stock had previously closed at $73.37, but opened at $75.22. Korro Bio shares last traded at $73.99, with a volume of 763 shares traded.

Wall Street Analysts Forecast Growth

KRRO has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price target on Korro Bio from $70.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 27th. HC Wainwright boosted their price target on Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Piper Sandler restated an “overweight” rating and issued a $180.00 price objective on shares of Korro Bio in a report on Wednesday, March 27th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $120.00 price objective on shares of Korro Bio in a report on Tuesday, March 26th.

Korro Bio Stock Performance

The stock has a market cap of $595.24 million, a price-to-earnings ratio of -0.78 and a beta of 2.18. The firm’s fifty day simple moving average is $63.14.

Institutional Investors Weigh In On Korro Bio

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Atlas Venture Life Science Advisors LLC acquired a new stake in shares of Korro Bio during the fourth quarter worth $53,648,000. Eventide Asset Management LLC acquired a new position in Korro Bio during the fourth quarter valued at $26,185,000. 72 Investment Holdings LLC acquired a new position in Korro Bio during the fourth quarter valued at $13,269,000. Vanguard Group Inc. acquired a new position in Korro Bio during the fourth quarter valued at $12,988,000. Finally, Point72 Asset Management L.P. acquired a new position in Korro Bio during the fourth quarter valued at $12,741,000. 13.18% of the stock is owned by institutional investors and hedge funds.

Korro Bio Company Profile

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.