Atlas Venture Life Science Advisors LLC Invests $53.65 Million in Korro Bio, Inc. (NASDAQ:KRRO)

Atlas Venture Life Science Advisors LLC bought a new position in shares of Korro Bio, Inc. (NASDAQ:KRRO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,119,292 shares of the company’s stock, valued at approximately $53,648,000. Korro Bio makes up approximately 6.4% of Atlas Venture Life Science Advisors LLC’s portfolio, making the stock its 6th largest position. Atlas Venture Life Science Advisors LLC owned 151.26% of Korro Bio at the end of the most recent reporting period.

Separately, North Star Investment Management Corp. purchased a new stake in shares of Korro Bio in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 13.18% of the company’s stock.

Korro Bio Stock Performance

Korro Bio stock traded up $0.77 during trading on Friday, hitting $48.85. The company’s stock had a trading volume of 52,839 shares, compared to its average volume of 30,053. The stock’s fifty day moving average is $65.58 and its 200 day moving average is $55.00. Korro Bio, Inc. has a 1-year low of $9.15 and a 1-year high of $97.91.

Insider Buying and Selling at Korro Bio

In other news, major shareholder Venture Opportunity Fund Atlas purchased 17,857 shares of the stock in a transaction on Monday, April 22nd. The stock was purchased at an average price of $56.00 per share, with a total value of $999,992.00. Following the completion of the transaction, the insider now owns 195,074 shares in the company, valued at $10,924,144. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KRRO. Piper Sandler restated an “overweight” rating and issued a $180.00 price target on shares of Korro Bio in a research note on Wednesday, March 27th. BMO Capital Markets restated an “outperform” rating and issued a $120.00 price target on shares of Korro Bio in a research note on Wednesday, May 15th. Royal Bank of Canada lifted their price objective on Korro Bio from $70.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, March 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of Korro Bio in a report on Tuesday.

About Korro Bio

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).