Key Points
- Lynx1 Capital Management bought 1,462 Korro Bio shares for $19,283.78, increasing its position by 0.09% to 1.54 million shares valued at roughly $20.38 million. The purchase followed an additional 5,222-share acquisition on August 6.
- Korro Bio reported a quarterly loss of $1.07 per share, beating estimates of $1.34, while revenue of $1.50 million exceeded the $0.21 million consensus forecast. Analysts expect a full-year loss of $4.97 per share.
- The stock opened at $13.29, compared with analysts’ average price target of $16.71. Its overall analyst consensus is “Moderate Buy,” although institutional investors own only 13.18% of the company.
Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) major shareholder Lynx1 Capital Management Lp acquired 1,462 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $13.19 per share, with a total value of $19,283.78. Following the completion of the transaction, the insider owned 1,544,980 shares in the company, valued at approximately $20,378,286.20. The trade was a 0.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Lynx1 Capital Management Lp also recently made the following trade(s):
- On Thursday, August 6th, Lynx1 Capital Management Lp bought 5,222 shares of Korro Bio stock. The shares were purchased at an average price of $11.40 per share, with a total value of $59,530.80.
Korro Bio Price Performance
NASDAQ:KRRO opened at $13.29 on Friday. The firm has a market capitalization of $195.76 million, a PE ratio of -1.33 and a beta of 3.04. The business's fifty day moving average price is $12.34 and its 200 day moving average price is $12.18. Korro Bio, Inc. has a 12 month low of $5.20 and a 12 month high of $55.89.
Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($1.07) earnings per share for the quarter, beating analysts' consensus estimates of ($1.34) by $0.27. The company had revenue of $1.50 million for the quarter, compared to analysts' expectations of $0.21 million. Korro Bio had a negative return on equity of 114.26% and a negative net margin of 1,834.48%. As a group, equities analysts anticipate that Korro Bio, Inc. will post -4.97 EPS for the current year.
Institutional Investors Weigh In On Korro Bio
Several large investors have recently modified their holdings of KRRO. Russell Investments Group Ltd. purchased a new position in shares of Korro Bio during the third quarter worth approximately $39,000. Wells Fargo & Company MN increased its holdings in shares of Korro Bio by 45.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,522 shares of the company's stock valued at $60,000 after acquiring an additional 2,352 shares during the period. Guggenheim Capital LLC purchased a new stake in Korro Bio in the 4th quarter valued at $84,000. Jain Global LLC purchased a new stake in Korro Bio in the 4th quarter valued at $85,000. Finally, Deutsche Bank AG boosted its stake in Korro Bio by 241.9% during the 4th quarter. Deutsche Bank AG now owns 12,758 shares of the company's stock worth $102,000 after purchasing an additional 9,027 shares during the period. 13.18% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently weighed in on KRRO. JonesTrading upgraded Korro Bio from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Korro Bio from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Korro Bio in a report on Monday, July 6th. Lifesci Capital upgraded shares of Korro Bio to a "strong-buy" rating in a research report on Friday, May 29th. Finally, Citigroup began coverage on shares of Korro Bio in a report on Monday, May 18th. They issued a "buy" rating and a $21.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.71.
View Our Latest Report on Korro Bio
About Korro Bio
(
Get Free Report)
Korro Bio, Inc is a clinical-stage biotechnology company focused on harnessing advanced protein engineering and synthetic biology to develop novel enzyme therapies and live microbial therapeutics. The company's proprietary platform integrates directed evolution, high-throughput screening and computational design to optimize biological catalysts for a wide range of applications. By combining machine learning with experimental biology, Korro Bio seeks to accelerate the discovery and development of next-generation treatments for rare genetic disorders and complex metabolic diseases.
The company's pipeline features both engineered enzyme therapeutics and live biotherapeutics.
Further Reading
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