Alliancebernstein L.P. Makes New Investment in Korro Bio, Inc. (NASDAQ:KRRO)

Alliancebernstein L.P. purchased a new position in Korro Bio, Inc. (NASDAQ:KRRO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 705,794 shares of the company’s stock, valued at approximately $26,870,000. Alliancebernstein L.P. owned approximately 7.53% of Korro Bio at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. KLP Kapitalforvaltning AS acquired a new position in shares of Korro Bio in the 4th quarter valued at approximately $53,000. AlphaQuest LLC increased its position in shares of Korro Bio by 23.2% during the fourth quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock worth $83,000 after acquiring an additional 412 shares in the last quarter. Vestcor Inc bought a new stake in shares of Korro Bio during the third quarter worth $100,000. MetLife Investment Management LLC raised its holdings in shares of Korro Bio by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after acquiring an additional 2,050 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in 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 period. 13.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KRRO shares. HC Wainwright reissued a “buy” rating and issued a $115.00 price target on shares of Korro Bio in a research note on Thursday, March 20th. Royal Bank of Canada cut their target price on Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Finally, Oppenheimer began coverage on Korro Bio in a research report on Friday, January 10th. They set an “outperform” rating and a $155.00 price target for the company. 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 data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $136.33.

Korro Bio Stock Performance

Shares of NASDAQ KRRO opened at $14.38 on Monday. The stock has a market capitalization of $135.01 million, a PE ratio of -1.53 and a beta of 2.31. Korro Bio, Inc. has a 52 week low of $13.38 and a 52 week high of $98.00. The stock has a 50 day moving average price of $25.95 and a 200 day moving average price of $39.81.

Korro Bio (NASDAQ:KRRO) last released its earnings results 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 during the quarter. As a group, research analysts forecast that Korro Bio, Inc. will post -9.52 EPS for the current year.

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).