Verition Fund Management LLC Has $3.12 Million Stake in Korro Bio, Inc. (NASDAQ:KRRO)

Verition Fund Management LLC cut its position in Korro Bio, Inc. (NASDAQ:KRRO - Free Report) by 23.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,289 shares of the company's stock after selling 29,095 shares during the quarter. Verition Fund Management LLC owned about 1.00% of Korro Bio worth $3,118,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KRRO. Bank of New York Mellon Corp bought a new position in shares of Korro Bio in the 2nd quarter valued at about $649,000. Rhumbline Advisers acquired a new position in Korro Bio during the second quarter worth approximately $279,000. Atlas Venture Life Science Advisors LLC raised 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 buying an additional 17,857 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Korro Bio in the second quarter valued at approximately $28,000. Finally, Tri Locum Partners LP bought a new position in shares of Korro Bio during the 2nd quarter worth approximately $2,419,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Vineet Agarwal sold 800 shares of the company'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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.40% of the company's stock.

Analysts Set New Price Targets

KRRO has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $115.00 price objective on shares of Korro Bio in a research report on Friday, November 22nd. Raymond James assumed coverage on Korro Bio in a report on Monday, October 21st. They set a "strong-buy" rating and a $153.00 price objective for the company. Royal Bank of Canada increased their target price on Korro Bio from $95.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Finally, William Blair restated an "outperform" rating on shares of Korro Bio in a research note on Wednesday, November 13th. Five equities research 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 company has an average rating of "Buy" and a consensus target price of $142.17.

Korro Bio Trading Down 0.9 %

NASDAQ:KRRO traded down $0.35 during trading hours on Thursday, reaching $38.26. 140,303 shares of the company were exchanged, compared to its average volume of 71,634. The business has a 50 day moving average of $53.16 and a 200 day moving average of $46.39. Korro Bio, Inc. has a 1-year low of $30.00 and a 1-year high of $98.00.

Korro Bio (NASDAQ:KRRO - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.55) by $0.29. On average, research analysts anticipate that Korro Bio, Inc. will post -9.63 EPS 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).