Korro Bio (NASDAQ:KRRO) Trading Down 9.6% on Insider Selling

Shares of Korro Bio, Inc. (NASDAQ:KRRO) fell 9.6% on Tuesday after an insider sold shares in the company. The stock traded as low as $66.08 and last traded at $66.41. 14,295 shares changed hands during trading, a decline of 79% from the average session volume of 67,784 shares. The stock had previously closed at $73.50.

Specifically, CFO Vineet Agarwal sold 800 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $70.00, for a total transaction of $56,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KRRO shares. Royal Bank of Canada lifted their price target on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. HC Wainwright reiterated a “buy” rating and set a $115.00 target price on shares of Korro Bio in a research report on Wednesday. Raymond James initiated coverage on shares of Korro Bio in a report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 target price on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Korro Bio in a report on Wednesday. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $142.17.

Korro Bio Stock Down 15.6 %

The stock has a 50 day moving average of $49.77 and a 200 day moving average of $46.92.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. Analysts predict that Korro Bio, Inc. will post -10.02 EPS for the current year.

Institutional Trading of Korro Bio

A number of institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in Korro Bio during the second quarter worth approximately $649,000. Rhumbline Advisers acquired a new stake in shares of Korro Bio during the 2nd quarter worth approximately $279,000. Atlas Venture Life Science Advisors LLC increased its stake in shares of Korro Bio by 1.6% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock valued at $38,515,000 after acquiring an additional 17,857 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Korro Bio during the 2nd quarter valued at $28,000. Finally, Tri Locum Partners LP bought 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).