Balyasny Asset Management L.P. Makes New Investment in Korro Bio, Inc. (NASDAQ:KRRO)

Balyasny Asset Management L.P. bought a new position in shares of Korro Bio, Inc. (NASDAQ:KRRO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,778 shares of the company’s stock, valued at approximately $220,000. Balyasny Asset Management L.P. owned about 0.06% of Korro Bio as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new position in Korro Bio in the fourth quarter valued at about $53,000. AlphaQuest LLC increased its position in shares of Korro Bio by 23.2% during the fourth quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock worth $83,000 after acquiring an additional 412 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Korro Bio by 32.4% in the 4th 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. Legal & General Group Plc lifted its stake in Korro Bio by 664.1% in the 4th quarter. Legal & General Group Plc now owns 4,325 shares of the company’s stock valued at $165,000 after acquiring an additional 3,759 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Korro Bio in the fourth quarter valued at approximately $211,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KRRO. Oppenheimer reduced their price target on Korro Bio from $155.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. HC Wainwright decreased their price target on shares of Korro Bio from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Royal Bank of Canada dropped their target price on Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Chardan Capital reiterated a “buy” rating and issued a $25.00 price target on shares of Korro Bio in a research report on Tuesday, May 13th. Finally, Cantor Fitzgerald raised shares of Korro Bio to a “strong-buy” rating in a research report on Tuesday, April 29th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $102.43.

Korro Bio Stock Up 4.4%

Shares of KRRO stock opened at $15.11 on Monday. The firm has a market capitalization of $141.90 million, a P/E ratio of -1.60 and a beta of 2.66. The stock’s fifty day simple moving average is $17.12 and its 200 day simple moving average is $32.41. Korro Bio, Inc. has a twelve month low of $11.13 and a twelve month high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($2.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.60) by $0.11. The company had revenue of $2.55 million during the quarter, compared to analyst estimates of $0.13 million. As a group, equities research analysts expect that Korro Bio, Inc. will post -9.52 EPS for the current fiscal 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).