Aberdeen Group plc Invests $1.47 Million in 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 bought a new stake in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in Korro Bio by 32.4% in the fourth quarter. Wells Fargo & Company MN now owns 3,392 shares of the company's stock valued at $129,000 after purchasing an additional 831 shares during the last quarter. Deutsche Bank AG grew its holdings in Korro Bio by 29.4% in the fourth quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock valued at $156,000 after purchasing an additional 935 shares during the last quarter. Legal & General Group Plc grew its holdings in Korro Bio by 664.1% in the fourth quarter. Legal & General Group Plc now owns 4,325 shares of the company's stock valued at $165,000 after purchasing an additional 3,759 shares during the last quarter. California State Teachers Retirement System grew its holdings in Korro Bio by 997.3% in the fourth quarter. California State Teachers Retirement System now owns 4,850 shares of the company's stock valued at $185,000 after purchasing an additional 4,408 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Korro Bio in the fourth quarter valued at $217,000. Institutional investors and hedge funds own 13.18% of the company's stock.

Wall Street Analysts Forecast Growth

KRRO has been the topic of a number of analyst reports. Raymond James Financial decreased their price objective on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating on the stock 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 research note on Wednesday, August 13th. Oppenheimer decreased their price objective on Korro Bio from $155.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. HC Wainwright decreased their price objective on Korro Bio from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Finally, Cantor Fitzgerald raised Korro Bio to a "strong-buy" rating in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $86.83.

Korro Bio Stock Performance

NASDAQ KRRO traded up $1.32 during trading hours on Wednesday, hitting $21.58. 158,397 shares of the company's stock were exchanged, compared to its average volume of 133,193. The business's 50 day moving average is $15.30 and its 200-day moving average is $17.29. Korro Bio, Inc. has a 12-month low of $10.29 and a 12-month high of $98.00. The firm has a market capitalization of $202.64 million, a P/E ratio of -2.21 and a beta of 2.51.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($2.74) earnings per share for the quarter, missing the consensus estimate 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 research analysts anticipate that Korro Bio, Inc. will post -9.52 EPS for the current fiscal 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).