Citadel Advisors LLC Sells 159,440 Shares of Korro Bio, Inc. (NASDAQ:KRRO)

Citadel Advisors LLC trimmed its holdings in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 30.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 369,733 shares of the company's stock after selling 159,440 shares during the period. Citadel Advisors LLC owned about 3.95% of Korro Bio worth $14,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in KRRO. JPMorgan Chase & Co. increased its holdings in Korro Bio by 374.9% during the third quarter. JPMorgan Chase & Co. now owns 12,391 shares of the company's stock worth $414,000 after buying an additional 9,782 shares during the last quarter. Rhumbline Advisers increased its holdings in Korro Bio by 7.8% during the fourth quarter. Rhumbline Advisers now owns 9,602 shares of the company's stock worth $366,000 after buying an additional 691 shares during the last quarter. Legal & General Group Plc increased its holdings in Korro Bio by 664.1% during the fourth quarter. Legal & General Group Plc now owns 4,325 shares of the company's stock worth $165,000 after buying an additional 3,759 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Korro Bio by 11.5% during the 4th quarter. Wellington Management Group LLP now owns 14,553 shares of the company's stock valued at $554,000 after buying an additional 1,501 shares in the last quarter. Finally, Barclays PLC bought a new position in Korro Bio in the 4th quarter worth approximately $395,000. 13.18% of the stock is owned by institutional investors.

Korro Bio Stock Performance

Shares of KRRO opened at $15.98 on Tuesday. The stock has a market cap of $150.07 million, a PE ratio of -1.69 and a beta of 2.66. Korro Bio, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $98.00. The firm's 50-day simple moving average is $17.66 and its two-hundred day simple moving average is $33.72.

Korro Bio (NASDAQ:KRRO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($2.49) earnings per share 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. Equities research analysts predict that Korro Bio, Inc. will post -9.52 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on KRRO. HC Wainwright reduced their price objective on shares of Korro Bio from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Chardan Capital started coverage on shares of Korro Bio in a report on Wednesday, April 16th. They issued a "buy" rating and a $25.00 price target for the company. Royal Bank of Canada cut their price target on shares of Korro Bio from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Wednesday, March 19th. Finally, Cantor Fitzgerald raised shares of Korro Bio to a "strong-buy" rating in a report on Tuesday, April 29th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $112.75.

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).

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