Legal & General Group Plc Raises Stock Holdings in Korro Bio, Inc. (NASDAQ:KRRO)

Legal & General Group Plc lifted its holdings in Korro Bio, Inc. (NASDAQ:KRRO) by 664.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,325 shares of the company’s stock after purchasing an additional 3,759 shares during the quarter. Legal & General Group Plc’s holdings in Korro Bio were worth $165,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of KRRO. AlphaQuest LLC boosted its stake in shares of 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 period. Bank of New York Mellon Corp grew its stake in Korro Bio by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company’s stock worth $563,000 after acquiring an additional 435 shares in the last quarter. Rhumbline Advisers increased its position in shares of Korro Bio by 7.8% during the fourth quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock worth $366,000 after acquiring an additional 691 shares during the period. Blair William & Co. IL raised its stake in shares of Korro Bio by 5.7% during the fourth quarter. Blair William & Co. IL now owns 12,895 shares of the company’s stock valued at $491,000 after acquiring an additional 695 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Korro Bio by 32.4% in the fourth quarter. Wells Fargo & Company MN now owns 3,392 shares of the company’s stock valued at $129,000 after purchasing an additional 831 shares during the period. Institutional investors own 13.18% of the company’s stock.

Korro Bio Stock Performance

Shares of NASDAQ KRRO opened at $18.40 on Friday. The firm has a market cap of $172.76 million, a PE ratio of -1.96 and a beta of 2.31. Korro Bio, Inc. has a one year low of $11.13 and a one year high of $98.00. The firm has a fifty day moving average of $18.76 and a 200 day moving average of $36.79.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada decreased their target price on Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, March 19th. Chardan Capital began 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. Cantor Fitzgerald raised shares of Korro Bio to a “strong-buy” rating in a research report on Tuesday. Oppenheimer started coverage on shares of Korro Bio in a research note on Friday, January 10th. They set an “outperform” rating and a $155.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $115.00 price objective on shares of Korro Bio in a research note on Thursday, March 20th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $114.63.

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).