Deep Track Capital LP Grows Stock Holdings in Korro Bio, Inc. (NASDAQ:KRRO)

Deep Track Capital LP grew its stake in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 874,614 shares of the company's stock after purchasing an additional 24,614 shares during the quarter. Korro Bio makes up about 1.2% of Deep Track Capital LP's holdings, making the stock its 28th largest position. Deep Track Capital LP owned approximately 9.33% of Korro Bio worth $33,297,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. purchased a new position in Korro Bio during the 4th quarter worth $26,870,000. Tri Locum Partners LP increased its stake in Korro Bio by 125.3% in the 4th quarter. Tri Locum Partners LP now owns 144,216 shares of the company's stock valued at $5,490,000 after buying an additional 80,202 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Korro Bio during the 4th quarter worth approximately $3,493,000. Ally Bridge Group NY LLC purchased a new position in shares of Korro Bio in the 4th quarter worth approximately $2,691,000. Finally, Northern Trust Corp lifted its holdings in Korro Bio by 4.7% during the fourth quarter. Northern Trust Corp now owns 60,547 shares of the company's stock worth $2,305,000 after acquiring an additional 2,717 shares during the period. Institutional investors own 13.18% of the company's stock.

Korro Bio Price Performance

KRRO stock traded up $0.16 during mid-day trading on Friday, reaching $15.56. 33,917 shares of the company traded hands, compared to its average volume of 97,926. The company has a fifty day moving average price of $17.78 and a 200-day moving average price of $34.32. Korro Bio, Inc. has a 52-week low of $11.13 and a 52-week high of $98.00. The company has a market capitalization of $146.12 million, a P/E ratio of -1.65 and a beta of 2.66.

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

Wall Street Analyst Weigh In

KRRO has been the subject of a number of recent analyst reports. HC Wainwright reduced their price objective on Korro Bio from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday. Royal Bank of Canada lowered their price objective on shares of Korro Bio from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 19th. Cantor Fitzgerald raised shares of Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, Chardan Capital started coverage on Korro Bio in a research note on Wednesday, April 16th. They issued a "buy" rating and a $25.00 price objective on the stock. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $112.75.

About Korro Bio

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).