ADAR1 Capital Management LLC Grows Holdings in Korro Bio, Inc. (NASDAQ:KRRO)

ADAR1 Capital Management LLC grew its position in Korro Bio, Inc. (NASDAQ:KRRO) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,978 shares of the company’s stock after purchasing an additional 8,527 shares during the quarter. ADAR1 Capital Management LLC owned approximately 0.62% of Korro Bio worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in Korro Bio by 1,018.2% during the third quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock valued at $164,000 after acquiring an additional 4,470 shares during the period. MetLife Investment Management LLC lifted its holdings in Korro Bio by 129.0% in the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after purchasing an additional 2,050 shares in the last quarter. State Street Corp boosted its stake in 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 purchasing an additional 18,877 shares during the period. Wellington Management Group LLP purchased a new stake in Korro Bio during the 3rd quarter valued at approximately $436,000. Finally, Vestcor Inc bought a new stake in Korro Bio in the 3rd quarter valued at $100,000. 13.18% of the stock is currently owned by institutional investors.

Korro Bio Trading Down 2.5 %

NASDAQ:KRRO opened at $14.38 on Monday. The company has a market cap of $135.01 million, a price-to-earnings ratio of -1.53 and a beta of 2.31. Korro Bio, Inc. has a twelve month low of $13.38 and a twelve month high of $98.00. The stock has a fifty day simple moving average of $25.95 and a 200-day simple moving average of $39.81.

Korro Bio (NASDAQ:KRRO) last posted its quarterly 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 company had revenue of $2.27 million for the quarter. As a group, equities research analysts predict that Korro Bio, Inc. will post -9.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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).