Polar Capital Holdings Plc Buys Shares of 75,000 Korro Bio, Inc. (NASDAQ:KRRO)

Polar Capital Holdings Plc bought a new stake in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 75,000 shares of the company's stock, valued at approximately $2,855,000. Polar Capital Holdings Plc owned 0.80% of Korro Bio as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. AlphaQuest LLC grew its stake in Korro Bio by 23.2% during the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company's stock worth $83,000 after buying an additional 412 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Korro Bio by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company's stock valued at $563,000 after buying an additional 435 shares during the last quarter. Bank of America Corp DE lifted its stake in Korro Bio by 9.0% in the fourth quarter. Bank of America Corp DE now owns 7,037 shares of the company's stock valued at $268,000 after buying an additional 581 shares during the last quarter. Rhumbline Advisers lifted its stake in Korro Bio by 7.8% in the fourth quarter. Rhumbline Advisers now owns 9,602 shares of the company's stock valued at $366,000 after buying an additional 691 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in Korro Bio by 5.7% in the fourth quarter. Blair William & Co. IL now owns 12,895 shares of the company's stock valued at $491,000 after buying an additional 695 shares during the last quarter. 13.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KRRO has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on shares of Korro Bio from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 19th. Oppenheimer cut their price objective on shares of Korro Bio from $155.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Cantor Fitzgerald upgraded shares of Korro Bio to a "strong-buy" rating in a research note on Tuesday, April 29th. HC Wainwright cut their price objective on shares of Korro Bio from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Chardan Capital restated a "buy" rating and set a $25.00 price objective on shares of Korro Bio in a research note on Tuesday, May 13th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $102.43.

Korro Bio Trading Up 0.8%

NASDAQ:KRRO traded up $0.13 during mid-day trading on Thursday, reaching $14.93. 10,676 shares of the stock were exchanged, compared to its average volume of 98,663. The business has a fifty day moving average price of $16.62 and a 200 day moving average price of $31.89. The firm has a market capitalization of $140.16 million, a PE ratio of -1.58 and a beta of 2.66. Korro Bio, Inc. has a 1-year low of $11.13 and a 1-year high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($2.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.60) by $0.11. The firm had revenue of $2.55 million for the quarter, compared to analyst estimates of $0.13 million. On average, sell-side analysts forecast that Korro Bio, Inc. will post -9.52 earnings per share for the current year.

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).