Tri Locum Partners LP Decreases Stock Holdings in Korro Bio, Inc. $KRRO

Key Points

• Tri Locum Partners LP reduced its holdings in Korro Bio, Inc. by 11% during the first quarter, owning approximately 128,381 shares valued at about $2.24 million.
• Several hedge funds significantly increased their positions in Korro Bio in the fourth quarter, with Legal & General Group Plc boosting their holdings by 664.1% and California State Teachers Retirement System by 997.3%.
• Korro Bio's stock has seen a notable increase of 6.5% recently, with analysts giving it an average rating of "Buy" and a target price of $86.83.

Tri Locum Partners LP lessened its holdings in shares of Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 11.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,381 shares of the company's stock after selling 15,835 shares during the quarter. Korro Bio makes up 1.1% of Tri Locum Partners LP's portfolio, making the stock its 21st largest holding. Tri Locum Partners LP owned 1.37% of Korro Bio worth $2,235,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. AlphaQuest LLC lifted its stake in shares of Korro Bio by 320.1% during the 1st quarter. AlphaQuest LLC now owns 9,196 shares of the company's stock valued at $160,000 after buying an additional 7,007 shares in the last quarter. Aberdeen Group plc bought a new stake in shares of Korro Bio in the 1st quarter valued at approximately $1,470,000. Nuveen LLC purchased a new position in shares of Korro Bio during the first quarter valued at approximately $211,000. Charles Schwab Investment Management Inc. boosted its position in shares of Korro Bio by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,288 shares of the company's stock valued at $318,000 after buying an additional 790 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of Korro Bio by 25.9% during the first quarter. Blair William & Co. IL now owns 16,230 shares of the company's stock valued at $283,000 after buying an additional 3,335 shares during the period. Hedge funds and other institutional investors own 13.18% of the company's stock.

Korro Bio Price Performance

Korro Bio stock traded down $0.59 during midday trading on Monday, reaching $23.08. The company had a trading volume of 189,912 shares, compared to its average volume of 139,412. The company has a market capitalization of $216.72 million, a P/E ratio of -2.37 and a beta of 2.66. Korro Bio, Inc. has a 12-month low of $10.29 and a 12-month high of $98.00. The firm's fifty day simple moving average is $15.74 and its 200-day simple moving average is $17.01.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on KRRO shares. Oppenheimer lowered their price target 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 restated a "buy" rating and set a $25.00 target price on shares of Korro Bio in a report on Wednesday, August 13th. HC Wainwright reduced their price target 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. Finally, Raymond James Financial cut their target price on Korro Bio from $153.00 to $147.00 and set a "strong-buy" rating on the stock in a research report 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, Korro Bio currently has an average rating of "Buy" and an average 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).