Korro Bio, Inc. (NASDAQ:KRRO) Short Interest Update

Korro Bio, Inc. (NASDAQ:KRRO) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 274,200 shares, an increase of 23.1% from the September 30th total of 222,800 shares. Based on an average daily trading volume, of 102,500 shares, the short-interest ratio is currently 2.7 days. Currently, 4.6% of the shares of the company are short sold.

Insider Buying and Selling at Korro Bio

In other news, CFO Vineet Agarwal sold 10,216 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $78.26, for a total transaction of $799,504.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Korro Bio

Several large investors have recently bought and sold shares of KRRO. Point72 Asset Management L.P. lifted its position 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 valued at $15,448,000 after purchasing an additional 190,259 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of Korro Bio in the 2nd quarter valued at about $3,958,000. Tri Locum Partners LP purchased a new position in Korro Bio in the second quarter worth about $2,419,000. Millennium Management LLC increased its stake in Korro Bio by 38.3% during the second 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 last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Korro Bio during the second quarter valued at approximately $649,000. Institutional investors own 13.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James initiated coverage on Korro Bio in a research note 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 price objective on shares of Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. William Blair started coverage on shares of Korro Bio in a research note on Wednesday, August 14th. They set an “outperform” rating and a $180.00 target price on the stock. Finally, HC Wainwright increased their price target on Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $142.17.

Korro Bio Stock Down 3.8 %

Shares of KRRO traded down $2.38 during midday trading on Wednesday, hitting $60.85. 70,137 shares of the company traded hands, compared to its average volume of 65,595. The firm has a 50 day moving average of $46.05 and a 200-day moving average of $47.03. Korro Bio has a 52 week low of $9.76 and a 52 week high of $98.00.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($2.43) EPS for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). Analysts forecast that Korro Bio will post -10.09 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).