Schonfeld Strategic Advisors LLC Trims Position in Korro Bio, Inc. (NASDAQ:KRRO)

Schonfeld Strategic Advisors LLC trimmed its position in Korro Bio, Inc. (NASDAQ:KRRO) by 20.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 113,065 shares of the company’s stock after selling 29,580 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Korro Bio were worth $4,304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of KRRO. JPMorgan Chase & Co. increased its holdings in shares of Korro Bio by 374.9% in the third quarter. JPMorgan Chase & Co. now owns 12,391 shares of the company’s stock worth $414,000 after purchasing an additional 9,782 shares during the period. Rhumbline Advisers boosted its position in shares of Korro Bio by 7.8% during the 4th quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock valued at $366,000 after acquiring an additional 691 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Korro Bio by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company’s stock worth $563,000 after purchasing an additional 435 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Korro Bio in the fourth quarter valued at approximately $394,000. Finally, AlphaQuest LLC lifted its position in Korro Bio by 23.2% during the fourth quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock valued at $83,000 after purchasing an additional 412 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 analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a research report on Thursday, March 20th. Oppenheimer began coverage on Korro Bio in a research note on Friday, January 10th. They issued an “outperform” rating and a $155.00 target price for the company. Cantor Fitzgerald raised shares of Korro Bio to a “strong-buy” rating in a research note on Tuesday. Chardan Capital initiated coverage on shares of Korro Bio in a research note on Wednesday, April 16th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, March 19th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Korro Bio presently has an average rating of “Buy” and an average target price of $114.63.

Korro Bio Price Performance

NASDAQ KRRO opened at $20.93 on Friday. Korro Bio, Inc. has a 1 year low of $11.13 and a 1 year high of $98.00. The stock has a market capitalization of $196.51 million, a PE ratio of -2.23 and a beta of 2.31. The business’s 50-day moving average is $18.64 and its 200 day moving average is $36.66.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($2.26) EPS for the quarter, topping analysts’ consensus estimates of ($2.33) by $0.07. The business had revenue of $2.27 million during the quarter. As a group, equities research analysts anticipate that Korro Bio, Inc. will post -9.52 earnings per share for the current year.

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).