Orbimed Advisors LLC Acquires New Holdings in Korro Bio, Inc. (NASDAQ:KRRO)

Orbimed Advisors LLC bought a new position in shares of Korro Bio, Inc. (NASDAQ:KRRO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,400 shares of the company's stock, valued at approximately $1,233,000. Orbimed Advisors LLC owned approximately 0.35% of Korro Bio as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of KRRO. Millennium Management LLC increased its position in shares of Korro Bio by 32.6% during the fourth quarter. Millennium Management LLC now owns 95,808 shares of the company's stock worth $3,647,000 after acquiring an additional 23,547 shares in the last quarter. Deutsche Bank AG boosted its stake in Korro Bio by 29.4% in the 4th quarter. Deutsche Bank AG now owns 4,110 shares of the company's stock worth $156,000 after purchasing an additional 935 shares during the period. Driehaus Capital Management LLC increased its holdings in Korro Bio by 220.3% during the 4th quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company's stock worth $18,841,000 after purchasing an additional 340,410 shares in the last quarter. Deep Track Capital LP raised its stake in shares of Korro Bio by 2.9% in the 4th quarter. Deep Track Capital LP now owns 874,614 shares of the company's stock valued at $33,297,000 after purchasing an additional 24,614 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Korro Bio in the fourth quarter valued at about $220,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Chardan Capital began coverage on shares of Korro Bio in a research note on Wednesday, April 16th. They set a "buy" rating and a $25.00 price target for the company. Cantor Fitzgerald raised Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. 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. Finally, HC Wainwright lowered their price target on Korro Bio from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Korro Bio currently has an average rating of "Buy" and an average price target of $112.75.

Korro Bio Stock Up 2.7%

Shares of NASDAQ KRRO opened at $15.98 on Tuesday. The business's 50 day moving average price is $17.66 and its two-hundred day moving average price is $33.72. The company has a market cap of $150.07 million, a PE ratio of -1.69 and a beta of 2.66. Korro Bio, Inc. has a twelve month low of $11.13 and a twelve month high of $98.00.

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 the consensus estimate of $0.13 million. As a group, research analysts anticipate that Korro Bio, Inc. will post -9.52 EPS for the current fiscal year.

Korro Bio Company 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).

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