Geode Capital Management LLC Lowers Position in Korro Bio, Inc. (NASDAQ:KRRO)

Geode Capital Management LLC decreased its position in shares of Korro Bio, Inc. (NASDAQ:KRRO) by 1.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 137,497 shares of the company’s stock after selling 2,161 shares during the period. Geode Capital Management LLC’s holdings in Korro Bio were worth $4,596,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new stake in shares of Korro Bio during the second quarter valued at approximately $28,000. Quest Partners LLC lifted its position in Korro Bio by 172.1% during the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock valued at $59,000 after buying an additional 1,124 shares during the period. Vestcor Inc bought a new stake in shares of Korro Bio during the 3rd quarter valued at $100,000. MetLife Investment Management LLC grew its position in shares of Korro Bio by 129.0% in the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after buying an additional 2,050 shares during the period. Finally, Lynx1 Capital Management LP bought a new position in shares of Korro Bio in the 2nd quarter worth about $129,000. Institutional investors own 13.18% of the company’s stock.

Korro Bio Price Performance

Shares of KRRO opened at $42.84 on Monday. Korro Bio, Inc. has a twelve month low of $30.00 and a twelve month high of $98.00. The firm has a 50 day moving average of $50.61 and a 200 day moving average of $45.98.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. On average, equities research analysts predict that Korro Bio, Inc. will post -9.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vineet Agarwal sold 10,216 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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