Schonfeld Strategic Advisors LLC Sells 29,580 Shares of Korro Bio, Inc. (NASDAQ:KRRO)

Schonfeld Strategic Advisors LLC decreased its position in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 20.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,065 shares of the company's stock after selling 29,580 shares during the quarter. Schonfeld Strategic Advisors LLC owned 1.21% of Korro Bio worth $4,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Korro Bio in the fourth quarter valued at approximately $53,000. AlphaQuest LLC grew its holdings in shares of Korro Bio by 23.2% in the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company's stock valued at $83,000 after acquiring an additional 412 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Korro Bio by 32.4% in the fourth quarter. Wells Fargo & Company MN now owns 3,392 shares of the company's stock valued at $129,000 after acquiring an additional 831 shares during the last quarter. Legal & General Group Plc boosted its position in Korro Bio by 664.1% during the fourth quarter. Legal & General Group Plc now owns 4,325 shares of the company's stock valued at $165,000 after purchasing an additional 3,759 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Korro Bio in the fourth quarter valued at approximately $211,000. 13.18% of the stock is owned by institutional investors and hedge funds.

Korro Bio Stock Performance

Shares of Korro Bio stock traded down $2.87 during midday trading on Tuesday, hitting $14.80. 115,932 shares of the company traded hands, compared to its average volume of 97,115. The firm's fifty day moving average price is $18.48 and its 200-day moving average price is $35.64. The stock has a market cap of $138.99 million, a price-to-earnings ratio of -1.58 and a beta of 2.66. Korro Bio, Inc. has a 12 month low of $11.13 and a 12 month high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($2.26) earnings per share for the quarter, beating the consensus estimate of ($2.33) by $0.07. The firm had revenue of $2.27 million for the quarter. Equities research analysts forecast that Korro Bio, Inc. will post -9.52 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer initiated coverage on shares of Korro Bio in a research note on Friday, January 10th. They issued an "outperform" rating and a $155.00 target price for the company. Cantor Fitzgerald raised Korro Bio to a "strong-buy" rating in a report on Tuesday, April 29th. Chardan Capital started coverage on Korro Bio in a research report on Wednesday, April 16th. They set a "buy" rating and a $25.00 price objective on the stock. Royal Bank of Canada reduced their target price on shares of 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 reiterated a "buy" rating and issued a $115.00 price objective on shares of Korro Bio in a research note on Thursday, March 20th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Korro Bio presently has a consensus rating of "Buy" and a consensus target price of $114.63.

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).