Franklin Resources Inc. Takes Position in Korro Bio, Inc. (NASDAQ:KRRO)

Franklin Resources Inc. bought a new stake in shares of Korro Bio, Inc. (NASDAQ:KRRO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 91,757 shares of the company's stock, valued at approximately $3,493,000. Franklin Resources Inc. owned approximately 0.98% of Korro Bio at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Alliancebernstein L.P. bought a new position in Korro Bio in the 4th quarter worth about $26,870,000. State Street Corp lifted its stake in shares of Korro Bio by 18.9% in 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Korro Bio by 3.0% during the fourth quarter. Bank of New York Mellon Corp now owns 14,788 shares of the company's stock valued at $563,000 after buying an additional 435 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Korro Bio by 11.5% during the fourth quarter. Wellington Management Group LLP now owns 14,553 shares of the company's stock valued at $554,000 after acquiring an additional 1,501 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in Korro Bio by 5.7% in the 4th quarter. Blair William & Co. IL now owns 12,895 shares of the company's stock valued at $491,000 after acquiring an additional 695 shares in the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.

Korro Bio Trading Up 1.1 %

NASDAQ KRRO traded up $0.15 during trading hours on Thursday, hitting $13.61. 10,789 shares of the company's stock traded hands, compared to its average volume of 92,425. Korro Bio, Inc. has a 52 week low of $11.13 and a 52 week high of $98.00. The firm has a market capitalization of $127.74 million, a P/E ratio of -1.47 and a beta of 2.31. The business's fifty day moving average price is $21.54 and its two-hundred day moving average price is $38.19.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($2.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.33) by $0.07. The business had revenue of $2.27 million for the quarter. On average, sell-side analysts expect that Korro Bio, Inc. will post -9.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Chardan Capital began coverage on Korro Bio in a report on Wednesday. They issued a "buy" rating and a $25.00 target price for the company. Royal Bank of Canada reduced their price objective on Korro Bio from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Wednesday, March 19th. 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 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $115.00 price target on shares of Korro Bio in a research note on Thursday, March 20th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Korro Bio currently has an average rating of "Buy" and a consensus target price of $120.43.

About Korro Bio

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).