Nuveen LLC Takes Position in Korro Bio, Inc. $KRRO

Key Points

• Nuveen LLC acquired a new stake in Korro Bio, Inc. valued at approximately $211,000 during the 1st quarter, representing 0.13% ownership of the company.
• Multiple hedge funds, including Wells Fargo and Deutsche Bank, have significantly increased their holdings in Korro Bio, indicating growing institutional interest.
• Korro Bio's stock currently has an average rating of "Buy" with a consensus price target of $86.83, despite recent earnings missing analyst expectations.

Nuveen LLC acquired a new stake in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 12,145 shares of the company's stock, valued at approximately $211,000. Nuveen LLC owned 0.13% of Korro Bio as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Korro Bio by 32.4% during the 4th quarter. Wells Fargo & Company MN now owns 3,392 shares of the company's stock worth $129,000 after purchasing an additional 831 shares during the last quarter. Deutsche Bank AG boosted its holdings in Korro Bio by 29.4% in the 4th 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 period. GAMMA Investing LLC boosted its holdings in Korro Bio by 128,950.0% in the 1st quarter. GAMMA Investing LLC now owns 10,324 shares of the company's stock valued at $180,000 after purchasing an additional 10,316 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Korro Bio by 997.3% during the 4th quarter. California State Teachers Retirement System now owns 4,850 shares of the company's stock worth $185,000 after acquiring an additional 4,408 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Korro Bio during the 1st quarter worth about $185,000. Institutional investors and hedge funds own 13.18% of the company's stock.

Korro Bio Price Performance

Shares of KRRO stock opened at $33.18 on Friday. The stock has a market capitalization of $311.56 million, a PE ratio of -3.40 and a beta of 2.66. Korro Bio, Inc. has a one year low of $10.29 and a one year high of $98.00. The business's 50 day simple moving average is $17.18 and its 200 day simple moving average is $16.99.

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

Analysts Set New Price Targets

KRRO has been the subject of a number of recent analyst reports. Chardan Capital reiterated a "buy" rating and set a $25.00 target price on shares of Korro Bio in a research report on Wednesday, August 13th. Raymond James Financial dropped their target price on shares of Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating on the stock in a report on Wednesday, August 13th. HC Wainwright lowered their price objective on shares of Korro Bio from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Finally, Oppenheimer lowered their target price on shares of Korro Bio from $155.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $86.83.

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).

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