Korro Bio, Inc. (NASDAQ:KRRO) Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System grew its position in Korro Bio, Inc. (NASDAQ:KRRO) by 997.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,850 shares of the company’s stock after acquiring an additional 4,408 shares during the quarter. California State Teachers Retirement System owned about 0.05% of Korro Bio worth $185,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KRRO. Rhumbline Advisers lifted its holdings 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 purchasing an additional 691 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Korro Bio in the fourth quarter valued at $220,000. Legal & General Group Plc lifted its holdings in Korro Bio by 664.1% in the fourth 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 during the period. Deutsche Bank AG raised its stake in shares of Korro Bio by 29.4% during the 4th quarter. Deutsche Bank AG now owns 4,110 shares of the company’s stock worth $156,000 after buying an additional 935 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Korro Bio by 11.5% during the 4th quarter. Wellington Management Group LLP now owns 14,553 shares of the company’s stock worth $554,000 after buying an additional 1,501 shares during the last quarter. 13.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on KRRO shares. Cantor Fitzgerald upgraded Korro Bio to a “strong-buy” rating in a research report on Tuesday, April 29th. Royal Bank of Canada lowered their price target on Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Oppenheimer lowered their price target on Korro Bio from $155.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Chardan Capital reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Korro Bio in a research note on Tuesday, May 13th. Finally, HC Wainwright reduced their price objective on Korro Bio from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Five investment 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 stock has a consensus rating of “Buy” and a consensus target price of $102.43.

Korro Bio Stock Down 6.0%

Shares of KRRO opened at $13.98 on Friday. The business’s 50 day moving average is $14.64 and its two-hundred day moving average is $27.02. Korro Bio, Inc. has a 52-week low of $10.29 and a 52-week high of $98.00. The firm has a market cap of $131.29 million, a price-to-earnings ratio of -1.48 and a beta of 2.45.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings results 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 firm had revenue of $2.55 million during the quarter, compared to the consensus estimate of $0.13 million. On average, equities analysts expect that Korro Bio, Inc. will post -9.52 earnings per share for the current fiscal 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).