Korro Bio (NASDAQ:KRRO) Major Shareholder Lynx1 Capital Management Lp Purchases 25,124 Shares of Stock

Key Points

• Lynx1 Capital Management purchased 25,124 Korro Bio shares for approximately $295,207, increasing its position by 1.57% to 1.62 million shares valued at about $19.1 million.
• Korro Bio shares rose 0.3% to $12.02, while the company’s latest quarterly loss of $1.07 per share beat analysts’ estimate of a $1.34 loss.
• Analyst sentiment is mixed but leans positive: the stock has a “Moderate Buy” consensus rating and an average price target of $16.50, compared with the current price.

Korro Bio, Inc. (NASDAQ:KRRO - Get Free Report) major shareholder Lynx1 Capital Management Lp acquired 25,124 shares of the company's stock in a transaction that occurred on Monday, October 26th. The shares were bought at an average cost of $11.75 per share, for a total transaction of $295,207.00. Following the acquisition, the insider directly owned 1,624,789 shares in the company, valued at $19,091,270.75. This represents a 1.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Lynx1 Capital Management Lp also recently made the following trade(s):

• On Friday, October 23rd, Lynx1 Capital Management Lp bought 2,510 shares of Korro Bio stock. The shares were purchased at an average cost of $12.11 per share, for a total transaction of $30,396.10.
• On Thursday, October 22nd, Lynx1 Capital Management Lp purchased 52,175 shares of Korro Bio stock. The shares were purchased at an average price of $10.72 per share, with a total value of $559,316.00.
• On Monday, August 10th, Lynx1 Capital Management Lp purchased 1,462 shares of Korro Bio stock. The shares were purchased at an average price of $13.19 per share, with a total value of $19,283.78.
• On Thursday, August 6th, Lynx1 Capital Management Lp bought 5,222 shares of Korro Bio stock. The shares were bought at an average price of $11.40 per share, with a total value of $59,530.80.

Korro Bio Stock Up 0.3%

Shares of Korro Bio stock traded up $0.04 on Monday, hitting $12.02. The stock had a trading volume of 179,938 shares, compared to its average volume of 183,916. Korro Bio, Inc. has a one year low of $5.20 and a one year high of $42.70. The stock's 50-day simple moving average is $11.38 and its two-hundred day simple moving average is $11.77.

Korro Bio (NASDAQ:KRRO - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.34) by $0.27. Equities research analysts forecast that Korro Bio, Inc. will post -4.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KRRO shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Korro Bio in a research report on Friday, October 2nd. HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Korro Bio in a research note on Tuesday, October 6th. Wall Street Zen upgraded Korro Bio from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group set a $15.00 price target on shares of Korro Bio in a research note on Tuesday, October 6th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $16.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of Korro Bio by 15.2% during the first quarter. Bank of New York Mellon Corp now owns 21,730 shares of the company's stock valued at $246,000 after buying an additional 2,875 shares during the last quarter. Quantinno Capital Management LP raised its position in Korro Bio by 30.4% in the 1st quarter. Quantinno Capital Management LP now owns 35,978 shares of the company's stock worth $407,000 after buying an additional 8,381 shares during the last quarter. Deutsche Bank AG bought a new position in Korro Bio during the 2nd quarter valued at about $210,000. Hsbc Holdings PLC bought a new position in Korro Bio during the 2nd quarter valued at about $233,000. Finally, Ieq Capital LLC bought a new position in Korro Bio during the 2nd quarter valued at about $280,000. Hedge funds and other institutional investors own 13.18% of the company's stock.

About Korro Bio

Korro Bio, Inc is a clinical-stage biotechnology company developing RNA editing medicines for genetically driven diseases. The company's approach is designed to make targeted changes to messenger RNA, potentially correcting or altering disease-related genetic instructions without permanently changing a patient's DNA.

Korro Bio's technology platform uses programmable oligonucleotides to guide RNA editing in specific cells and tissues. Its lead development program, KRRO-110, is being developed for alpha-1 antitrypsin deficiency, an inherited disorder caused by mutations in the SERPINA1 gene that can lead to liver and lung disease.

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