Emerald Mutual Fund Advisers Trust Makes New Investment in Korro Bio, Inc. $KRRO

Emerald Mutual Fund Advisers Trust bought a new stake in Korro Bio, Inc. (NASDAQ:KRRO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 58,911 shares of the company’s stock, valued at approximately $2,821,000.

A number of other hedge funds have also modified their holdings of the business. CWM LLC increased its position in shares of Korro Bio by 391.4% during the 3rd quarter. CWM LLC now owns 2,693 shares of the company’s stock worth $129,000 after purchasing an additional 2,145 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Korro Bio by 195.9% in the 2nd quarter. AlphaQuest LLC now owns 27,211 shares of the company’s stock valued at $340,000 after acquiring an additional 18,015 shares during the period. Bank of America Corp DE raised its stake in shares of Korro Bio by 520.0% in the 2nd quarter. Bank of America Corp DE now owns 28,156 shares of the company’s stock valued at $352,000 after acquiring an additional 23,615 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Korro Bio by 357.6% in the 2nd quarter. Raymond James Financial Inc. now owns 83,392 shares of the company’s stock worth $1,042,000 after acquiring an additional 65,170 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Korro Bio by 10.8% during the 2nd quarter. Geode Capital Management LLC now owns 155,387 shares of the company’s stock worth $1,941,000 after purchasing an additional 15,166 shares during the period. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank Of Canada lowered Korro Bio from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 13th. Piper Sandler cut Korro Bio from an “overweight” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Thursday, November 13th. Raymond James Financial lowered Korro Bio from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, November 13th. William Blair cut Korro Bio from an “outperform” rating to a “market perform” rating in a report on Thursday, November 13th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Korro Bio in a research report on Thursday, November 13th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.00.

Korro Bio Trading Up 2.1%

Korro Bio stock opened at $10.73 on Friday. The firm has a market capitalization of $101.08 million, a P/E ratio of -1.14 and a beta of 2.95. Korro Bio, Inc. has a twelve month low of $5.20 and a twelve month high of $55.89. The stock’s fifty day simple moving average is $7.72 and its 200-day simple moving average is $21.20.

Korro Bio (NASDAQ:KRRO) last released its earnings results on Wednesday, November 12th. The company reported ($1.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.61) by $0.69. Korro Bio had a negative return on equity of 68.87% and a negative net margin of 1,199.53%.The firm had revenue of $1.09 million during the quarter, compared to analyst estimates of $0.41 million. Sell-side analysts predict that Korro Bio, Inc. will post -9.52 earnings per share for the current year.

Korro Bio Profile

Korro Bio, Inc is a clinical-stage biotechnology company focused on harnessing advanced protein engineering and synthetic biology to develop novel enzyme therapies and live microbial therapeutics. The company’s proprietary platform integrates directed evolution, high-throughput screening and computational design to optimize biological catalysts for a wide range of applications. By combining machine learning with experimental biology, Korro Bio seeks to accelerate the discovery and development of next-generation treatments for rare genetic disorders and complex metabolic diseases.

The company’s pipeline features both engineered enzyme therapeutics and live biotherapeutics.