State Street Corp Boosts Stake in Korro Bio, Inc. (NASDAQ:KRRO)

State Street Corp raised its position in Korro Bio, Inc. (NASDAQ:KRRO) by 18.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,765 shares of the company’s stock after purchasing an additional 18,877 shares during the quarter. State Street Corp’s holdings in Korro Bio were worth $3,969,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of KRRO. Bank of New York Mellon Corp acquired a new stake in Korro Bio in the 2nd quarter valued at about $649,000. Rhumbline Advisers acquired a new position in shares of Korro Bio during the 2nd quarter worth $279,000. Atlas Venture Life Science Advisors LLC raised its holdings in Korro Bio by 1.6% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock worth $38,515,000 after purchasing an additional 17,857 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Korro Bio during the second quarter worth about $28,000. Finally, Tri Locum Partners LP acquired a new stake in shares of Korro Bio during the 2nd quarter worth about $2,419,000. 13.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Vineet Agarwal sold 10,216 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.40% of the stock is currently owned by insiders.

Korro Bio Trading Down 4.7 %

Shares of KRRO stock opened at $38.11 on Tuesday. Korro Bio, Inc. has a 12 month low of $30.00 and a 12 month high of $98.00. The stock has a 50 day moving average of $52.89 and a 200-day moving average of $45.86.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, topping the consensus estimate of ($2.55) by $0.29. As a group, sell-side analysts expect that Korro Bio, Inc. will post -9.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KRRO. William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th. Raymond James started coverage on Korro Bio in a research note on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price on the stock. Royal Bank of Canada boosted their price target on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $115.00 price objective on shares of Korro Bio in a research report on Friday, November 22nd. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $142.17.

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).