Korro Bio, Inc. (NASDAQ:KRRO) Position Increased by NEA Management Company LLC

NEA Management Company LLC raised its position in Korro Bio, Inc. (NASDAQ:KRRO) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,090,793 shares of the company’s stock after acquiring an additional 17,857 shares during the quarter. Korro Bio makes up about 2.8% of NEA Management Company LLC’s holdings, making the stock its 9th biggest holding. NEA Management Company LLC owned about 11.76% of Korro Bio worth $36,945,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new position in shares of Korro Bio during the 2nd quarter worth about $28,000. Rhumbline Advisers purchased a new stake in Korro Bio during the second quarter worth approximately $279,000. Bank of New York Mellon Corp acquired a new position in Korro Bio in the second quarter valued at approximately $649,000. Tri Locum Partners LP purchased a new position in Korro Bio in the second quarter valued at approximately $2,419,000. Finally, Monashee Investment Management LLC acquired a new stake in Korro Bio during the fourth quarter worth approximately $4,352,000. Institutional investors and hedge funds own 13.18% of the company’s stock.

Korro Bio Trading Up 1.0 %

KRRO stock opened at $35.03 on Wednesday. Korro Bio, Inc. has a 12 month low of $9.15 and a 12 month high of $97.91. The company has a fifty day moving average price of $42.84 and a 200 day moving average price of $51.00.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.04). Analysts forecast that Korro Bio, Inc. will post -10.09 EPS for the current fiscal year.

Analysts Set New Price Targets

KRRO has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Korro Bio in a report on Thursday, September 19th. William Blair started coverage on shares of Korro Bio in a research note on Wednesday, August 14th. They issued an “outperform” rating and a $180.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of Korro Bio in a research report on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Korro Bio presently has a consensus rating of “Buy” and an average price target of $135.00.

Korro Bio 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).