ADAR1 Capital Management LLC Takes Position in Korro Bio, Inc. $KRRO

Key Points

• ADAR1 Capital Management acquired 540,054 Korro Bio shares worth approximately $6.1 million, giving it a 3.75% stake. Institutional investors collectively own 13.18% of the company.
• Korro Bio reported a quarterly loss of $1.69 per share, missing analyst expectations of $1.60, while analysts project a full-year loss of $5.36 per share.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $16.71 target price versus the stock’s $10.50 opening price; however, insiders have sold about $4.3 million of shares over the past three months.

ADAR1 Capital Management LLC acquired a new stake in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 540,054 shares of the company's stock, valued at approximately $6,113,000. ADAR1 Capital Management LLC owned 3.75% of Korro Bio as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of KRRO. Russell Investments Group Ltd. acquired a new position in Korro Bio in the 3rd quarter worth $39,000. Wells Fargo & Company MN lifted its holdings in shares of Korro Bio by 45.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,522 shares of the company's stock valued at $60,000 after purchasing an additional 2,352 shares in the last quarter. Guggenheim Capital LLC bought a new stake in shares of Korro Bio in the fourth quarter valued at about $84,000. Jain Global LLC acquired a new position in shares of Korro Bio during the fourth quarter worth about $85,000. Finally, Deutsche Bank AG boosted its position in shares of Korro Bio by 241.9% during the fourth quarter. Deutsche Bank AG now owns 12,758 shares of the company's stock worth $102,000 after buying an additional 9,027 shares during the period. 13.18% of the stock is owned by institutional investors.

Korro Bio Stock Performance

Shares of NASDAQ:KRRO opened at $10.50 on Wednesday. Korro Bio, Inc. has a 52-week low of $5.20 and a 52-week high of $55.89. The company has a market capitalization of $151.41 million, a P/E ratio of -0.90 and a beta of 3.00. The company has a 50-day simple moving average of $12.34 and a 200 day simple moving average of $11.96.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.09). Korro Bio had a negative return on equity of 117.86% and a negative net margin of 1,834.48%. As a group, equities analysts forecast that Korro Bio, Inc. will post -5.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KRRO. HC Wainwright reduced their price target on Korro Bio from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, May 19th. Citigroup initiated coverage on shares of Korro Bio in a report on Monday, May 18th. They issued a "buy" rating and a $21.00 price objective on the stock. Wall Street Zen upgraded shares of Korro Bio from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. JonesTrading raised shares of Korro Bio from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Finally, Lifesci Capital raised Korro Bio to a "strong-buy" rating in a research report on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Korro Bio has a consensus rating of "Moderate Buy" and a consensus target price of $16.71.

Insiders Place Their Bets

In related news, COO Todd Chappell sold 3,168 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $10.83, for a total value of $34,309.44. Following the completion of the transaction, the chief operating officer owned 16,964 shares of the company's stock, valued at $183,720.12. This represents a 15.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jean Francois Formela sold 119,005 shares of the business's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $14.25, for a total transaction of $1,695,821.25. Following the sale, the director directly owned 176,649 shares in the company, valued at approximately $2,517,248.25. The trade was a 40.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 306,026 shares of company stock worth $4,309,637. Insiders own 4.80% of the company's stock.

About Korro Bio

Korro Bio, Inc is a clinical-stage biotechnology company focused on harnessing advanced protein engineering and synthetic biology to develop novel enzyme therapies and live microbial therapeutics. The company's proprietary platform integrates directed evolution, high-throughput screening and computational design to optimize biological catalysts for a wide range of applications. By combining machine learning with experimental biology, Korro Bio seeks to accelerate the discovery and development of next-generation treatments for rare genetic disorders and complex metabolic diseases.

The company's pipeline features both engineered enzyme therapeutics and live biotherapeutics.

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