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

Other institutional investors and hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN raised its position 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 valued at $129,000 after buying an additional 831 shares in the last quarter. Deutsche Bank AG increased its stake in Korro Bio by 29.4% during the fourth quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock worth $156,000 after acquiring an additional 935 shares during the last quarter. GAMMA Investing LLC raised its position in Korro Bio by 128,950.0% during the first 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 stake in shares of Korro Bio by 997.3% in the 4th 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, XTX Topco Ltd bought a new stake in shares of Korro Bio in the 1st quarter valued at approximately $185,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

Korro Bio Price Performance

Shares of NASDAQ:KRRO traded down $1.12 during trading on Thursday, reaching $34.39. 282,068 shares of the company were exchanged, compared to its average volume of 223,515. The firm has a market capitalization of $322.92 million, a PE ratio of -3.53 and a beta of 2.66. The business's fifty day simple moving average is $18.93 and its 200-day simple moving average is $17.28. Korro Bio, Inc. has a 12-month low of $10.29 and a 12-month high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last announced 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 firm had revenue of $1.46 million during the quarter, compared to analysts' expectations of $0.41 million. On average, sell-side analysts anticipate that Korro Bio, Inc. will post -9.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. HC Wainwright cut their target price on Korro Bio from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Chardan Capital reiterated a "buy" rating and set a $25.00 price objective on shares of Korro Bio in a research report on Wednesday, August 13th. Finally, Raymond James Financial reduced 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 research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, Korro Bio has a consensus rating of "Buy" and a consensus target price 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).