Korro Bio, Inc. (NASDAQ:KRRO) Short Interest Down 6.5% in November

Korro Bio, Inc. (NASDAQ:KRRO) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 244,900 shares, a decrease of 6.5% from the October 31st total of 262,000 shares. Based on an average trading volume of 120,200 shares, the short-interest ratio is presently 2.0 days. Currently, 4.4% of the shares of the stock are sold short.

Korro Bio Stock Performance

Shares of KRRO stock opened at $53.50 on Tuesday. Korro Bio has a fifty-two week low of $30.00 and a fifty-two week high of $98.00. The stock’s fifty day moving average is $52.82 and its two-hundred day moving average is $46.50.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, topping the consensus estimate of ($2.55) by $0.29. On average, equities analysts predict that Korro Bio will post -9.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. 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 report on Monday, October 21st. Raymond James initiated coverage on shares of Korro Bio in a research report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a research report on Friday, November 22nd. Finally, William Blair restated an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Korro Bio currently has a consensus rating of “Buy” and a consensus target price of $142.17.

Insiders Place Their Bets

In related news, CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $70.00, for a total value of $56,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KRRO. Atlas Venture Life Science Advisors LLC grew its position in shares of Korro Bio by 1.6% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock valued at $38,515,000 after purchasing an additional 17,857 shares in the last quarter. NEA Management Company LLC grew its holdings in Korro Bio by 1.7% in the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after buying an additional 17,857 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Korro Bio by 71.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock worth $15,448,000 after acquiring an additional 190,259 shares during the last quarter. State Street Corp raised its holdings in shares of Korro Bio by 18.9% during the 3rd quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after acquiring an additional 18,877 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in shares of Korro Bio during the 2nd quarter valued at about $3,958,000. 13.18% of the stock is owned by hedge funds and other institutional investors.

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).