Korro Bio, Inc. (NASDAQ:KRRO) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC reduced its stake in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 20.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,065 shares of the company's stock after selling 29,580 shares during the period. Schonfeld Strategic Advisors LLC owned 1.21% of Korro Bio worth $4,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in KRRO. Alliancebernstein L.P. purchased a new position in shares of Korro Bio in the fourth quarter worth about $26,870,000. Franklin Resources Inc. purchased a new stake in Korro Bio during the 4th quarter valued at about $3,493,000. Tri Locum Partners LP raised its stake in Korro Bio by 125.3% during 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. Walleye Capital LLC bought a new stake in Korro Bio during the 4th quarter worth approximately $1,570,000. Finally, Marshall Wace LLP bought a new stake in shares of Korro Bio in the fourth quarter worth about $703,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Korro Bio Stock Up 12.8 %

Shares of NASDAQ:KRRO traded up $1.79 during midday trading on Thursday, reaching $15.72. The company's stock had a trading volume of 20,426 shares, compared to its average volume of 97,290. The firm has a market capitalization of $147.58 million, a P/E ratio of -1.67 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. The firm has a 50 day moving average of $18.06 and a 200-day moving average of $35.34.

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

Wall Street Analyst Weigh In

KRRO has been the subject of several recent analyst reports. Royal Bank of Canada lowered 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 note on Wednesday, March 19th. Oppenheimer assumed coverage on shares of Korro Bio in a research report on Friday, January 10th. They issued an "outperform" rating and a $155.00 price objective on the stock. Chardan Capital started coverage on Korro Bio in a research note on Wednesday, April 16th. They set a "buy" rating and a $25.00 price objective for the company. Cantor Fitzgerald upgraded Korro Bio to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, HC Wainwright decreased their target price on shares of Korro Bio from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently 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).