Key Points
- Lynx1 Capital Management purchased 25,124 Korro Bio shares at an average price of $11.75, investing approximately $295,207 and increasing its stake by 1.57% to 1.62 million shares.
- Korro Bio shares opened at $12.02, with a market capitalization of about $177 million and a one-year trading range of $5.20 to $42.70. The company recently reported a quarterly loss of $1.07 per share, better than analyst expectations.
- Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $16.50, although some firms continue to rate the stock a sell.
Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) major shareholder Lynx1 Capital Management Lp purchased 2,510 shares of the stock in a transaction dated Friday, October 23rd. The stock was purchased at an average price of $12.11 per share, with a total value of $30,396.10. Following the completion of the acquisition, the insider directly owned 1,599,665 shares in the company, valued at approximately $19,371,943.15. The trade was a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 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 Monday, October 26th, Lynx1 Capital Management Lp purchased 25,124 shares of Korro Bio stock. The shares were purchased at an average cost of $11.75 per share, for a total transaction of $295,207.00.
- On Thursday, October 22nd, Lynx1 Capital Management Lp acquired 52,175 shares of Korro Bio stock. The shares were purchased at an average price of $10.72 per share, for a total transaction of $559,316.00.
- On Monday, August 10th, Lynx1 Capital Management Lp acquired 1,462 shares of Korro Bio stock. The shares were purchased at an average price of $13.19 per share, for a total transaction of $19,283.78.
- On Thursday, August 6th, Lynx1 Capital Management Lp acquired 5,222 shares of Korro Bio stock. The stock was acquired at an average cost of $11.40 per share, with a total value of $59,530.80.
Korro Bio Price Performance
KRRO stock opened at $12.02 on Tuesday. Korro Bio, Inc. has a 1-year low of $5.20 and a 1-year high of $42.70. The firm has a fifty day moving average price of $11.38 and a two-hundred day moving average price of $11.77. The firm has a market cap of $177.01 million, a price-to-earnings ratio of -1.20 and a beta of 3.13.
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 (EPS) for the quarter, topping analysts' consensus estimates of ($1.34) by $0.27. As a group, analysts expect that Korro Bio, Inc. will post -4.95 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Jefferies Financial Group set a $15.00 target price on shares of Korro Bio in a report on Tuesday, October 6th. HC Wainwright reaffirmed a "buy" rating and set a $15.00 target price on shares of Korro Bio in a report on Tuesday, October 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Korro Bio in a research report on Friday, October 2nd. Finally, Wall Street Zen upgraded Korro Bio from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.50.
Get Our Latest Analysis on KRRO
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of KRRO. BlackRock Inc. bought a new stake in shares of Korro Bio during the second quarter valued at about $10,776,000. Nantahala Capital Management LLC bought a new position in Korro Bio in the 2nd quarter valued at about $8,699,274. Affinity Asset Advisors LLC bought a new position in Korro Bio in the 1st quarter valued at about $8,002,000. ADAR1 Capital Management LLC acquired a new position in Korro Bio during the 2nd quarter valued at about $7,118,000. Finally, Renaissance Technologies LLC increased its stake in Korro Bio by 81.9% during the 1st quarter. Renaissance Technologies LLC now owns 136,227 shares of the company's stock valued at $1,542,000 after buying an additional 61,327 shares during the period. 13.18% of the stock is owned by institutional investors and hedge funds.
Korro Bio Company Profile
(
Get Free Report)
Korro Bio, Inc is a clinical-stage biotechnology company developing RNA editing medicines for genetically driven diseases. The company's approach is designed to make targeted changes to messenger RNA, potentially correcting or altering disease-related genetic instructions without permanently changing a patient's DNA.
Korro Bio's technology platform uses programmable oligonucleotides to guide RNA editing in specific cells and tissues. Its lead development program, KRRO-110, is being developed for alpha-1 antitrypsin deficiency, an inherited disorder caused by mutations in the SERPINA1 gene that can lead to liver and lung disease.
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