Point72 Asset Management L.P. Acquires 49,147 Shares of Korro Bio, Inc. (NASDAQ:KRRO)

Point72 Asset Management L.P. lifted its position in shares of Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 493,997 shares of the company's stock after buying an additional 49,147 shares during the period. Point72 Asset Management L.P. owned about 5.27% of Korro Bio worth $18,806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. AlphaQuest LLC increased its stake in Korro Bio by 23.2% in 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 during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Korro Bio by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company's stock valued at $563,000 after acquiring an additional 435 shares in the last quarter. Bank of America Corp DE increased its position in shares of Korro Bio by 9.0% in the fourth quarter. Bank of America Corp DE now owns 7,037 shares of the company's stock valued at $268,000 after acquiring an additional 581 shares during the last quarter. Rhumbline Advisers raised its holdings in Korro Bio by 7.8% during the fourth quarter. Rhumbline Advisers now owns 9,602 shares of the company's stock worth $366,000 after acquiring an additional 691 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Korro Bio by 5.7% during the fourth quarter. Blair William & Co. IL now owns 12,895 shares of the company's stock valued at $491,000 after purchasing an additional 695 shares during the last quarter. 13.18% of the stock is owned by institutional investors and hedge funds.

Korro Bio Stock Down 1.3%

Shares of KRRO traded down $0.19 during trading hours on Friday, hitting $14.62. The company had a trading volume of 9,301 shares, compared to its average volume of 89,441. The business has a fifty day moving average of $16.42 and a 200-day moving average of $31.57. The firm has a market cap of $137.30 million, a price-to-earnings ratio of -1.55 and a beta of 2.66. Korro Bio, Inc. has a 12 month low of $11.13 and a 12 month high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($2.49) EPS for the quarter, beating analysts' consensus estimates of ($2.60) by $0.11. The company had revenue of $2.55 million during the quarter, compared to analyst estimates of $0.13 million. On average, equities analysts expect that Korro Bio, Inc. will post -9.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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).