Korro Bio, Inc. (NASDAQ:KRRO) Stock Position Increased by State Street Corp

State Street Corp lifted its holdings in shares of Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 18.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,765 shares of the company's stock after purchasing an additional 18,877 shares during the quarter. State Street Corp owned about 1.27% of Korro Bio worth $3,969,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Millennium Management LLC increased its position in shares of Korro Bio by 38.3% in the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company's stock valued at $2,852,000 after purchasing an additional 23,307 shares during the last quarter. Tri Locum Partners LP purchased a new stake in Korro Bio during the second quarter worth approximately $2,419,000. NEA Management Company LLC boosted its holdings in Korro Bio by 1.7% in the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company's stock valued at $36,945,000 after purchasing an additional 17,857 shares in the last quarter. Atlas Venture Life Science Advisors LLC increased its stake in Korro Bio by 1.6% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company's stock valued at $38,515,000 after purchasing an additional 17,857 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Korro Bio by 71.6% during the second quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company's stock worth $15,448,000 after purchasing an additional 190,259 shares in the last quarter. Institutional investors and hedge funds own 13.18% of the company's stock.

Korro Bio Price Performance

Shares of Korro Bio stock traded down $0.04 on Tuesday, hitting $38.07. The company's stock had a trading volume of 50,372 shares, compared to its average volume of 75,126. The firm has a fifty day moving average price of $52.25 and a 200-day moving average price of $45.84. Korro Bio, Inc. has a 52-week low of $30.00 and a 52-week high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last issued its quarterly 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 Activity

In related news, CFO Vineet Agarwal sold 800 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $70.00, for a total value of $56,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on KRRO. HC Wainwright reissued a "buy" rating and issued a $115.00 price target on shares of Korro Bio in a research report on Friday, November 22nd. Royal Bank of Canada raised their price target on Korro Bio from $95.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Raymond James initiated coverage on shares of Korro Bio in a research report on Monday, October 21st. They issued a "strong-buy" rating and a $153.00 price target for the company. Finally, William Blair reissued an "outperform" rating on shares of Korro Bio in a report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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).