Trexquant Investment LP Purchases Shares of 5,539 Korro Bio, Inc. (NASDAQ:KRRO)

Trexquant Investment LP acquired a new position in shares of Korro Bio, Inc. (NASDAQ:KRRO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,539 shares of the company’s stock, valued at approximately $211,000. Trexquant Investment LP owned 0.06% of Korro Bio as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the business. Alliancebernstein L.P. acquired a new position in Korro Bio in the fourth quarter worth about $26,870,000. State Street Corp raised its holdings in shares of Korro Bio by 18.9% in the 3rd quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after buying an additional 18,877 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Korro Bio in the 4th quarter worth approximately $3,493,000. Bank of New York Mellon Corp lifted its position in shares of Korro Bio by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company’s stock worth $563,000 after buying an additional 435 shares during the period. Finally, Wellington Management Group LLP grew its position in Korro Bio by 11.5% in the fourth quarter. Wellington Management Group LLP now owns 14,553 shares of the company’s stock valued at $554,000 after acquiring an additional 1,501 shares during the period. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KRRO. HC Wainwright restated a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a research note on Thursday, March 20th. Royal Bank of Canada reduced their price target on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 19th. Finally, Oppenheimer started coverage on shares of Korro Bio in a report on Friday, January 10th. They set an “outperform” rating and a $155.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Korro Bio has an average rating of “Buy” and a consensus target price of $136.33.

Korro Bio Stock Down 0.5 %

Shares of NASDAQ KRRO opened at $12.84 on Tuesday. The company has a market cap of $120.55 million, a price-to-earnings ratio of -1.37 and a beta of 2.31. Korro Bio, Inc. has a 12-month low of $11.13 and a 12-month high of $98.00. The firm’s 50-day simple moving average is $22.42 and its 200 day simple moving average is $38.54.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($2.26) EPS for the quarter, beating the consensus estimate of ($2.33) by $0.07. The company had revenue of $2.27 million for the quarter. On average, equities analysts expect that Korro Bio, Inc. will post -9.52 earnings per share for the current 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).