Jane Street Group LLC Makes New Investment in Korro Bio, Inc. (NASDAQ:KRRO)

Jane Street Group LLC acquired a new position in Korro Bio, Inc. (NASDAQ:KRRO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,604 shares of the company’s stock, valued at approximately $289,000. Jane Street Group LLC owned approximately 0.08% of Korro Bio as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. AlphaQuest LLC lifted its holdings in Korro Bio by 23.2% during the 4th quarter. AlphaQuest LLC now owns 2,189 shares of the company’s stock valued at $83,000 after buying an additional 412 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Korro Bio by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company’s stock valued at $563,000 after buying an additional 435 shares in the last quarter. Rhumbline Advisers lifted its holdings in 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 buying an additional 691 shares in the last quarter. Blair William & Co. IL lifted its holdings in Korro Bio by 5.7% during the 4th quarter. Blair William & Co. IL now owns 12,895 shares of the company’s stock valued at $491,000 after buying an additional 695 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Korro Bio by 32.4% during the 4th quarter. Wells Fargo & Company MN now owns 3,392 shares of the company’s stock valued at $129,000 after buying an additional 831 shares in the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on KRRO. Chardan Capital reissued a “buy” rating and set a $25.00 target price on shares of Korro Bio in a research report on Tuesday, May 13th. Cantor Fitzgerald raised shares of Korro Bio to a “strong-buy” rating in a research report on Tuesday, April 29th. Oppenheimer cut their target price on shares of Korro Bio from $155.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Royal Bank of Canada cut their target price on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 19th. Finally, HC Wainwright cut their target price on shares of Korro Bio from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $102.43.

Korro Bio Stock Up 10.5%

Korro Bio stock opened at $11.93 on Wednesday. The firm has a market cap of $112.03 million, a PE ratio of -1.26 and a beta of 2.66. Korro Bio, Inc. has a 52-week low of $10.29 and a 52-week high of $98.00. The company’s 50 day moving average is $14.91 and its two-hundred day moving average is $28.57.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($2.49) EPS for the quarter, beating 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. On average, equities research analysts anticipate that Korro Bio, Inc. will post -9.52 earnings per share 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).