Korro Bio (NASDAQ:KRRO) Major Shareholder Lynx1 Capital Management Lp Purchases 5,222 Shares of Stock

Korro Bio, Inc. (NASDAQ:KRRO) major shareholder Lynx1 Capital Management Lp acquired 5,222 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of $11.40 per share, for a total transaction of $59,530.80. Following the completion of the purchase, the insider directly owned 1,543,518 shares in the company, valued at $17,596,105.20. This represents a 0.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Lynx1 Capital Management Lp also recently made the following trade(s):

• On Monday, August 10th, Lynx1 Capital Management Lp bought 1,462 shares of Korro Bio stock. The shares were bought at an average cost of $13.19 per share, with a total value of $19,283.78.

Korro Bio Stock Down 0.4%

Shares of KRRO stock opened at $13.29 on Friday. Korro Bio, Inc. has a 12 month low of $5.20 and a 12 month high of $55.89. The business’s 50 day moving average is $12.34 and its two-hundred day moving average is $12.18. The company has a market cap of $195.76 million, a PE ratio of -1.33 and a beta of 3.04.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Thursday, August 6th. The company reported ($1.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.27. The business had revenue of $1.50 million for the quarter, compared to analyst estimates of $0.21 million. Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 114.26%. As a group, equities analysts expect that Korro Bio, Inc. will post -4.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Korro Bio in the third quarter valued at about $39,000. Wells Fargo & Company MN increased its stake in Korro Bio by 45.5% during the fourth quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock valued at $60,000 after acquiring an additional 2,352 shares during the period. Guggenheim Capital LLC acquired a new position in Korro Bio in the 4th quarter valued at approximately $84,000. Jain Global LLC acquired a new position in Korro Bio in the 4th quarter valued at approximately $85,000. Finally, Deutsche Bank AG lifted its position in shares of Korro Bio by 241.9% in the 4th quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock worth $102,000 after acquiring an additional 9,027 shares during the period. Institutional investors and hedge funds own 13.18% of the company’s stock.

Analysts Set New Price Targets

KRRO has been the topic of several research analyst reports. Lifesci Capital raised Korro Bio to a “strong-buy” rating in a research report on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Korro Bio in a research report on Monday, July 6th. Wall Street Zen raised Korro Bio from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. HC Wainwright dropped their price target on Korro Bio from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, JonesTrading raised Korro Bio from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Korro Bio Company 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.