19,148 Shares in Korro Bio, Inc. (NASDAQ:KRRO) Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new stake in Korro Bio, Inc. (NASDAQ:KRRO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,148 shares of the company’s stock, valued at approximately $649,000. Bank of New York Mellon Corp owned about 0.21% of Korro Bio at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Monashee Investment Management LLC purchased a new stake in shares of Korro Bio in the fourth quarter valued at $4,352,000. 72 Investment Holdings LLC acquired a new stake in Korro Bio in the 4th quarter worth about $13,269,000. Finally, Eventide Asset Management LLC purchased a new stake in Korro Bio in the 4th quarter valued at about $26,185,000. Hedge funds and other institutional investors own 13.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KRRO. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Korro Bio in a report on Thursday, September 19th. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of Korro Bio in a research note on Tuesday, September 17th. Finally, William Blair started coverage on Korro Bio in a research report on Wednesday, August 14th. They issued an “outperform” rating and a $180.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Korro Bio currently has an average rating of “Buy” and an average price target of $135.00.

Korro Bio Stock Down 4.6 %

Shares of Korro Bio stock opened at $34.67 on Tuesday. Korro Bio, Inc. has a twelve month low of $9.15 and a twelve month high of $97.91. The company has a fifty day moving average price of $43.18 and a 200 day moving average price of $51.14.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). Equities research analysts expect that Korro Bio, Inc. will post -10.29 earnings per share for the current fiscal year.

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).