Woodline Partners LP Makes New Investment in Korro Bio, Inc. (NASDAQ:KRRO)

Woodline Partners LP purchased a new stake in shares of Korro Bio, Inc. (NASDAQ:KRRO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 102,094 shares of the company's stock, valued at approximately $3,887,000. Woodline Partners LP owned 1.09% of Korro Bio as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in shares of Korro Bio by 11.0% in the fourth quarter. Point72 Asset Management L.P. now owns 493,997 shares of the company's stock worth $18,806,000 after buying an additional 49,147 shares in the last quarter. Polar Capital Holdings Plc purchased a new position in shares of Korro Bio during the 4th quarter worth $2,855,000. Nuveen Asset Management LLC increased its position in Korro Bio by 153.4% in the fourth quarter. Nuveen Asset Management LLC now owns 28,295 shares of the company's stock worth $1,077,000 after buying an additional 17,131 shares in the last quarter. Orbimed Advisors LLC purchased a new position in Korro Bio during the fourth quarter valued at approximately $1,233,000. Finally, Millennium Management LLC boosted its holdings in Korro Bio by 32.6% in the 4th quarter. Millennium Management LLC now owns 95,808 shares of the company's stock worth $3,647,000 after buying an additional 23,547 shares during the period. Hedge funds and other institutional investors own 13.18% of the company's stock.

Korro Bio Stock Down 3.1%

Shares of KRRO traded down $0.40 on Wednesday, hitting $12.42. The company's stock had a trading volume of 91,326 shares, compared to its average volume of 99,340. The firm's fifty day moving average price is $15.83 and its 200-day moving average price is $30.19. Korro Bio, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $98.00. The firm has a market capitalization of $116.64 million, a price-to-earnings ratio of -1.32 and a beta of 2.66.

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

Analyst Upgrades and Downgrades

KRRO has been the subject of several recent analyst reports. Oppenheimer dropped their target price on Korro Bio from $155.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. HC Wainwright lowered their price target on Korro Bio from $115.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Cantor Fitzgerald raised Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. Chardan Capital reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Korro Bio in a report on Tuesday, May 13th. Finally, Royal Bank of Canada reduced their price target on Korro Bio from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday, March 19th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target 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).