Korro Bio, Inc. $KRRO Shares Purchased by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC increased its stake in Korro Bio, Inc. by 17.7%, acquiring 87,544 shares and now owns a total of 582,449 shares valued at approximately $10.14 million.
• Several institutional investors, including Wells Fargo and Deutsche Bank, have significantly increased their holdings in Korro Bio, with the overall institutional ownership reaching 13.18%.
• Korro Bio's stock has faced analysts’ target price reductions, with the consensus price target now at $86.83, reflecting varying outlooks on the company’s performance.

Driehaus Capital Management LLC grew its holdings in shares of Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 17.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 582,449 shares of the company's stock after purchasing an additional 87,544 shares during the period. Driehaus Capital Management LLC owned about 6.20% of Korro Bio worth $10,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. AlphaQuest LLC grew its position in shares of Korro Bio by 320.1% during the first quarter. AlphaQuest LLC now owns 9,196 shares of the company's stock worth $160,000 after buying an additional 7,007 shares in the last quarter. Aberdeen Group plc acquired a new position in Korro Bio in the first quarter valued at approximately $1,470,000. Nuveen LLC acquired a new position in Korro Bio in the first quarter valued at approximately $211,000. Charles Schwab Investment Management Inc. boosted its holdings in Korro Bio by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company's stock valued at $318,000 after purchasing an additional 790 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in Korro Bio by 25.9% in the first quarter. Blair William & Co. IL now owns 16,230 shares of the company's stock valued at $283,000 after purchasing an additional 3,335 shares in the last quarter. 13.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Oppenheimer decreased their price objective on Korro Bio from $155.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, May 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. HC Wainwright decreased their price target on Korro Bio from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Finally, Raymond James Financial decreased their price target on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating for the company in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat, Korro Bio presently has an average rating of "Buy" and an average price target of $86.83.

Korro Bio Trading Up 14.8%

Shares of NASDAQ:KRRO traded up $4.17 during midday trading on Friday, hitting $32.26. 326,059 shares of the stock were exchanged, compared to its average volume of 120,312. The stock has a market cap of $302.87 million, a P/E ratio of -3.31 and a beta of 2.66. Korro Bio, Inc. has a twelve month low of $10.29 and a twelve month high of $98.00. The company has a 50 day moving average price of $16.75 and a 200-day moving average price of $17.05.

Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($2.74) EPS for the quarter, missing the consensus estimate of ($2.54) by ($0.20). The business had revenue of $1.46 million during the quarter, compared to the consensus estimate of $0.41 million. On average, equities research analysts expect that Korro Bio, Inc. will post -9.52 earnings per share for the current year.

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).