Affinity Asset Advisors LLC Buys New Shares in Korro Bio, Inc. $KRRO

Affinity Asset Advisors LLC acquired a new position in Korro Bio, Inc. (NASDAQ:KRRO) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 706,904 shares of the company’s stock, valued at approximately $8,002,000. Affinity Asset Advisors LLC owned 4.90% of Korro Bio at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of KRRO. JPMorgan Chase & Co. boosted its position in Korro Bio by 6,185.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 199,249 shares of the company’s stock valued at $9,542,000 after buying an additional 196,079 shares during the period. Geode Capital Management LLC increased its position in shares of Korro Bio by 10.8% in the second quarter. Geode Capital Management LLC now owns 155,387 shares of the company’s stock valued at $1,941,000 after acquiring an additional 15,166 shares during the period. State Street Corp increased its position in shares of Korro Bio by 17.4% in the fourth quarter. State Street Corp now owns 146,221 shares of the company’s stock valued at $1,171,000 after acquiring an additional 21,652 shares during the period. Blair William & Co. IL bought a new position in shares of Korro Bio during the third quarter valued at about $467,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Korro Bio by 231.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 51,950 shares of the company’s stock valued at $416,000 after acquiring an additional 36,269 shares during the last quarter. Institutional investors own 13.18% of the company’s stock.

Insider Activity at Korro Bio

In related news, CEO Ram Aiyar sold 15,152 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $12.98, for a total transaction of $196,672.96. Following the transaction, the chief executive officer owned 74,848 shares in the company, valued at $971,527.04. This represents a 16.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Loic A. Vincent sold 3,418 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $10.83, for a total transaction of $37,016.94. Following the transaction, the insider owned 18,297 shares in the company, valued at approximately $198,156.51. This trade represents a 15.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 306,026 shares of company stock valued at $4,309,637 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KRRO shares. Wall Street Zen raised Korro Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. JonesTrading raised shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. HC Wainwright lowered their price objective on shares of Korro Bio from $20.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Citigroup initiated coverage on Korro Bio in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Lifesci Capital upgraded Korro Bio to a “strong-buy” rating in a report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.71.

Korro Bio Stock Performance

Shares of NASDAQ KRRO opened at $10.64 on Friday. The firm’s 50 day moving average price is $12.30 and its 200-day moving average price is $11.90. Korro Bio, Inc. has a 52-week low of $5.20 and a 52-week high of $55.89. The company has a market cap of $153.43 million, a PE ratio of -0.91 and a beta of 3.00.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.09). Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 117.86%. On average, analysts forecast that Korro Bio, Inc. will post -5.36 earnings per share for the current fiscal year.

About Korro Bio

Korro Bio, Inc is a clinical-stage biotechnology company focused on harnessing advanced protein engineering and synthetic biology to develop novel enzyme therapies and live microbial therapeutics. The company’s proprietary platform integrates directed evolution, high-throughput screening and computational design to optimize biological catalysts for a wide range of applications. By combining machine learning with experimental biology, Korro Bio seeks to accelerate the discovery and development of next-generation treatments for rare genetic disorders and complex metabolic diseases.

The company’s pipeline features both engineered enzyme therapeutics and live biotherapeutics.