Korro Bio, Inc. (NASDAQ:KRRO) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Korro Bio, Inc. (NASDAQ:KRRO) by 374.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,391 shares of the company’s stock after purchasing an additional 9,782 shares during the period. JPMorgan Chase & Co. owned about 0.13% of Korro Bio worth $414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KRRO. State Street Corp boosted its stake in shares of Korro Bio by 18.9% during the third quarter. State Street Corp now owns 118,765 shares of the company’s stock worth $3,969,000 after buying an additional 18,877 shares during the period. Millennium Management LLC lifted its position in Korro Bio by 38.3% during the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock worth $2,852,000 after acquiring an additional 23,307 shares during the period. Wellington Management Group LLP purchased a new position in shares of Korro Bio in the 3rd quarter valued at approximately $436,000. BNP Paribas Financial Markets increased its holdings in shares of Korro Bio by 1,018.2% in the third quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock valued at $164,000 after purchasing an additional 4,470 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of Korro Bio by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after purchasing an additional 2,050 shares during the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Vineet Agarwal sold 800 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is currently owned by company insiders.

Korro Bio Stock Down 8.4 %

NASDAQ KRRO opened at $33.09 on Thursday. The business has a 50 day moving average price of $42.97 and a 200 day moving average price of $45.97. Korro Bio, Inc. has a 1-year low of $30.00 and a 1-year high of $98.00.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.55) by $0.29. On average, analysts predict that Korro Bio, Inc. will post -9.52 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KRRO shares. Royal Bank of Canada boosted their price objective on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Oppenheimer assumed coverage on shares of Korro Bio in a research note on Friday, January 10th. They set an “outperform” rating and a $155.00 price target on the stock. Raymond James assumed coverage on Korro Bio in a report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $115.00 target price on shares of Korro Bio in a research note on Friday, November 22nd. Finally, William Blair restated an “outperform” rating on shares of Korro Bio in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $144.00.

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).