Aberdeen Group plc Purchases Shares of 84,428 Korro Bio, Inc. $KRRO

Key Points

• Aberdeen Group plc invested approximately $1.47 million in Korro Bio, acquiring 84,428 shares, which represents around 0.90% of the company as of the latest SEC filing.
• Multiple large investors, including Deep Track Capital LP and Driehaus Capital Management LLC, significantly increased their positions in Korro Bio in the last quarter, reflecting growing institutional interest.
• Korro Bio reported a loss of ($2.74) per share for the last quarter, missing analyst estimates, but had revenue of $1.46 million, surpassing consensus expectations of $0.41 million.

Aberdeen Group plc acquired a new position in shares of Korro Bio, Inc. (NASDAQ:KRRO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 84,428 shares of the company's stock, valued at approximately $1,470,000. Aberdeen Group plc owned about 0.90% of Korro Bio as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of KRRO. Driehaus Capital Management LLC increased its stake in Korro Bio by 220.3% in the 4th quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company's stock valued at $18,841,000 after buying an additional 340,410 shares during the period. Woodline Partners LP purchased a new stake in shares of Korro Bio in the fourth quarter valued at about $3,887,000. Tri Locum Partners LP increased its stake in shares of Korro Bio by 125.3% during the fourth quarter. Tri Locum Partners LP now owns 144,216 shares of the company's stock worth $5,490,000 after acquiring an additional 80,202 shares during the period. Polar Capital Holdings Plc purchased a new position in Korro Bio during the fourth quarter worth about $2,855,000. Finally, Ally Bridge Group NY LLC purchased a new position in Korro Bio during the fourth quarter worth about $2,691,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Korro Bio Trading Up 0.1%

Shares of NASDAQ:KRRO traded up $0.03 on Monday, hitting $20.07. The company had a trading volume of 57,033 shares, compared to its average volume of 114,454. The company has a market cap of $188.48 million, a PE ratio of -2.06 and a beta of 2.51. Korro Bio, Inc. has a 52-week low of $10.29 and a 52-week high of $98.00. The business has a 50 day moving average of $14.83 and a 200 day moving average of $17.34.

Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($2.74) EPS for the quarter, missing analysts' consensus estimates of ($2.54) by ($0.20). The company had revenue of $1.46 million during the quarter, compared to analysts' expectations of $0.41 million. As a group, equities analysts predict that Korro Bio, Inc. will post -9.52 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Raymond James Financial cut their target price on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating for the company in a research note on Wednesday, August 13th. Chardan Capital reaffirmed a "buy" rating and set a $25.00 price objective on shares of Korro Bio in a report on Wednesday, August 13th. Cantor Fitzgerald upgraded Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. Oppenheimer decreased their target price on shares of Korro Bio from $155.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, HC Wainwright lowered their price target on shares of Korro Bio from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $86.83.

About Korro Bio

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).