Millennium Management LLC Acquires 23,547 Shares of Korro Bio, Inc. (NASDAQ:KRRO)

Millennium Management LLC increased its position in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 32.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,808 shares of the company's stock after acquiring an additional 23,547 shares during the quarter. Millennium Management LLC owned about 1.02% of Korro Bio worth $3,647,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in KRRO. KLP Kapitalforvaltning AS purchased a new stake in Korro Bio during the 4th quarter valued at approximately $53,000. AlphaQuest LLC grew its holdings in Korro Bio by 23.2% during the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company's stock valued at $83,000 after buying an additional 412 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Korro Bio by 32.4% during the 4th quarter. Wells Fargo & Company MN now owns 3,392 shares of the company's stock valued at $129,000 after buying an additional 831 shares in the last quarter. Deutsche Bank AG grew its holdings in Korro Bio by 29.4% during the 4th quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock valued at $156,000 after buying an additional 935 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Korro Bio by 664.1% during the 4th quarter. Legal & General Group Plc now owns 4,325 shares of the company's stock valued at $165,000 after buying an additional 3,759 shares in the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Korro Bio Stock Down 0.4%

KRRO traded down $0.05 during trading on Wednesday, reaching $11.88. The company had a trading volume of 172,530 shares, compared to its average volume of 108,065. The stock has a market cap of $111.57 million, a P/E ratio of -1.26 and a beta of 2.66. The business has a 50 day simple moving average of $14.80 and a 200-day simple moving average of $28.46. Korro Bio, Inc. has a 52 week low of $10.29 and a 52 week high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($2.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.60) by $0.11. The company had revenue of $2.55 million during the quarter, compared to the consensus estimate of $0.13 million. As a group, equities research analysts expect that Korro Bio, Inc. will post -9.52 EPS for the current fiscal 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).