Deutsche Bank AG Buys 935 Shares of Korro Bio, Inc. (NASDAQ:KRRO)

Deutsche Bank AG boosted its stake in shares of Korro Bio, Inc. (NASDAQ:KRRO) by 29.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,110 shares of the company’s stock after buying an additional 935 shares during the quarter. Deutsche Bank AG’s holdings in Korro Bio were worth $156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KRRO. Alliancebernstein L.P. bought a new stake in Korro Bio during the 4th quarter valued at about $26,870,000. Driehaus Capital Management LLC lifted its holdings in Korro Bio by 220.3% during the 4th quarter. Driehaus Capital Management LLC now owns 494,905 shares of the company’s stock valued at $18,841,000 after buying an additional 340,410 shares in the last quarter. Franklin Resources Inc. bought a new stake in Korro Bio during the 4th quarter valued at about $3,493,000. Tri Locum Partners LP lifted its holdings in Korro Bio by 125.3% during the 4th quarter. Tri Locum Partners LP now owns 144,216 shares of the company’s stock valued at $5,490,000 after buying an additional 80,202 shares in the last quarter. Finally, Ally Bridge Group NY LLC bought a new stake in Korro Bio during the 4th quarter valued at about $2,691,000. Institutional investors own 13.18% of the company’s stock.

Korro Bio Stock Down 5.4%

Shares of Korro Bio stock opened at $10.80 on Tuesday. The firm’s 50 day moving average price is $15.04 and its 200-day moving average price is $28.69. Korro Bio, Inc. has a 52-week low of $10.29 and a 52-week high of $98.00. The company has a market cap of $101.42 million, a P/E ratio of -1.14 and a beta of 2.66.

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

Analyst Upgrades and Downgrades

KRRO has been the subject of a number of research analyst reports. HC Wainwright decreased their price objective on shares of Korro Bio from $115.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Oppenheimer reduced their price target on shares of Korro Bio from $155.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Cantor Fitzgerald upgraded shares of Korro Bio to a “strong-buy” rating in a report on Tuesday, April 29th. Royal Bank of Canada reduced 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. Finally, Chardan Capital restated a “buy” rating and issued a $25.00 price target on shares of Korro Bio in a report on Tuesday, May 13th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Korro Bio presently has an average rating of “Buy” and a consensus price target of $102.43.

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).