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

Citadel Advisors LLC decreased its holdings in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 30.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Balyasny Asset Management L.P. bought a new position in shares of Korro Bio in the 4th quarter valued at $220,000. Bank of America Corp DE raised its position in Korro Bio by 9.0% during 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 during the last quarter. BNP Paribas Financial Markets raised its position in Korro Bio by 42.4% during the 4th quarter. BNP Paribas Financial Markets now owns 6,988 shares of the company's stock worth $266,000 after purchasing an additional 2,079 shares during the last quarter. Ally Bridge Group NY LLC bought a new position in Korro Bio during the 4th quarter worth $2,691,000. Finally, Jane Street Group LLC bought a new position in Korro Bio during the 4th quarter worth $289,000. Institutional investors and hedge funds own 13.18% of the company's stock.

Analyst Ratings Changes

KRRO has been the subject of several analyst reports. HC Wainwright lowered their target price on Korro Bio from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Oppenheimer lowered their price objective on Korro Bio from $155.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Cantor Fitzgerald raised Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. Royal Bank of Canada lowered their price objective on Korro Bio from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday, March 19th. Finally, Chardan Capital reissued a "buy" rating and issued a $25.00 price objective on shares of Korro Bio in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Korro Bio currently has an average rating of "Buy" and an average target price of $102.43.

Korro Bio Stock Up 4.4%

Shares of NASDAQ:KRRO traded up $0.63 during midday trading on Friday, hitting $15.11. 74,332 shares of the stock traded hands, compared to its average volume of 98,909. Korro Bio, Inc. has a one year low of $11.13 and a one year high of $98.00. The stock has a market capitalization of $141.90 million, a PE ratio of -1.60 and a beta of 2.66. The business's 50 day moving average is $17.12 and its two-hundred day moving average is $32.41.

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, beating the consensus estimate of ($2.60) by $0.11. The business had revenue of $2.55 million for the quarter, compared to analysts' expectations of $0.13 million. As a group, sell-side analysts forecast that Korro Bio, Inc. will post -9.52 earnings per share for the current year.

Korro Bio 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).