Polar Capital Holdings Plc Makes New Investment in Korro Bio, Inc. (NASDAQ:KRRO)

Polar Capital Holdings Plc bought a new position in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC boosted its stake in Korro Bio by 23.2% in the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company's stock worth $83,000 after purchasing an additional 412 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Korro Bio by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company's stock worth $563,000 after purchasing an additional 435 shares in the last quarter. Bank of America Corp DE boosted its stake in Korro Bio by 9.0% in the 4th quarter. Bank of America Corp DE now owns 7,037 shares of the company's stock worth $268,000 after purchasing an additional 581 shares in the last quarter. Rhumbline Advisers boosted its stake in Korro Bio by 7.8% in the 4th quarter. Rhumbline Advisers now owns 9,602 shares of the company's stock worth $366,000 after purchasing an additional 691 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in Korro Bio by 5.7% in the 4th quarter. Blair William & Co. IL now owns 12,895 shares of the company's stock worth $491,000 after purchasing an additional 695 shares in the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.

Korro Bio Trading Up 3.0%

Korro Bio stock traded up $0.47 during midday trading on Tuesday, hitting $16.18. The stock had a trading volume of 72,788 shares, compared to its average volume of 98,923. The firm's fifty day moving average is $16.99 and its two-hundred day moving average is $32.12. The company has a market capitalization of $151.95 million, a PE ratio of -1.71 and a beta of 2.66. Korro Bio, Inc. has a 52-week low of $11.13 and a 52-week high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly 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 business had revenue of $2.55 million during the quarter, compared to analysts' expectations of $0.13 million. As a group, equities research analysts predict that Korro Bio, Inc. will post -9.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KRRO. Oppenheimer dropped their price target 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. Chardan Capital restated a "buy" rating and set a $25.00 target price on shares of Korro Bio in a research note on Tuesday, May 13th. Royal Bank of Canada lowered their target price 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. Cantor Fitzgerald upgraded shares of Korro Bio to a "strong-buy" rating in a research note on Tuesday, April 29th. Finally, HC Wainwright lowered their target price 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. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $102.43.

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).