Eventide Asset Management LLC Lowers Stock Holdings in Korro Bio, Inc. (NASDAQ:KRRO)

Eventide Asset Management LLC reduced its stake in Korro Bio, Inc. (NASDAQ:KRRO) by 26.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,166 shares of the company’s stock after selling 137,989 shares during the quarter. Eventide Asset Management LLC owned about 4.21% of Korro Bio worth $13,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brown Brothers Harriman & Co. bought a new position in Korro Bio during the second quarter valued at approximately $28,000. Quest Partners LLC lifted its position in Korro Bio by 172.1% during the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after buying an additional 1,124 shares during the period. MetLife Investment Management LLC lifted its position in Korro Bio by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after buying an additional 2,050 shares during the period. Lynx1 Capital Management LP purchased a new position in Korro Bio during the second quarter valued at $129,000. Finally, BNP Paribas Financial Markets raised its position in shares of Korro Bio by 1,018.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock worth $164,000 after purchasing an additional 4,470 shares during the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on KRRO. HC Wainwright reiterated a “buy” rating and issued a $115.00 price objective on shares of Korro Bio in a report on Friday, November 22nd. Royal Bank of Canada boosted their price objective on Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Raymond James assumed coverage on Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price target on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $142.17.

Korro Bio Price Performance

Korro Bio stock opened at $54.99 on Friday. The business has a fifty day moving average price of $52.13 and a 200-day moving average price of $46.54. Korro Bio, Inc. has a 1-year low of $30.00 and a 1-year high of $98.00.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. Research analysts anticipate that Korro Bio, Inc. will post -9.63 EPS for the current fiscal year.

Insider Activity at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.40% of the stock is owned by company insiders.

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).