Korro Bio (NASDAQ:KRRO) Stock: Insider Lynx1 Capital Management Lp Acquires 2,510 Shares

Korro Bio, Inc. (NASDAQ:KRRO) major shareholder Lynx1 Capital Management Lp acquired 2,510 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were bought at an average price of $12.11 per share, for a total transaction of $30,396.10. Following the transaction, the insider owned 1,599,665 shares of the company’s stock, valued at $19,371,943.15. This trade represents a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, October 26th, Lynx1 Capital Management Lp bought 25,124 shares of Korro Bio stock. The stock was bought at an average price of $11.75 per share, for a total transaction of $295,207.00.
• On Thursday, October 22nd, Lynx1 Capital Management Lp bought 52,175 shares of Korro Bio stock. The stock was bought at an average cost of $10.72 per share, with a total value of $559,316.00.
• On Monday, August 10th, Lynx1 Capital Management Lp bought 1,462 shares of Korro Bio stock. The shares were bought at an average price of $13.19 per share, with a total value of $19,283.78.
• On Thursday, August 6th, Lynx1 Capital Management Lp bought 5,222 shares of Korro Bio stock. The shares were bought at an average price of $11.40 per share, with a total value of $59,530.80.

Korro Bio Price Performance

NASDAQ KRRO opened at $13.30 on Wednesday. The business’s fifty day moving average price is $11.36 and its 200-day moving average price is $11.81. Korro Bio, Inc. has a 1-year low of $5.20 and a 1-year high of $42.70.

Korro Bio (NASDAQ:KRRO) last released its quarterly earnings results on Thursday, August 6th. The company reported ($1.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.27. Research analysts anticipate that Korro Bio, Inc. will post -4.95 EPS for the current fiscal year.

Institutional Trading of Korro Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRRO. Bank of New York Mellon Corp raised its position in Korro Bio by 15.2% in the first quarter. Bank of New York Mellon Corp now owns 21,730 shares of the company’s stock worth $246,000 after acquiring an additional 2,875 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Korro Bio by 30.4% during the 1st quarter. Quantinno Capital Management LP now owns 35,978 shares of the company’s stock worth $407,000 after acquiring an additional 8,381 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Korro Bio during the 2nd quarter worth $210,000. Hsbc Holdings PLC purchased a new position in shares of Korro Bio during the 2nd quarter worth $233,000. Finally, North Star Investment Management Corp. grew its position in shares of Korro Bio by 1,044.4% during the 3rd quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $204,000 after acquiring an additional 18,800 shares during the period. 13.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Jefferies Financial Group set a $15.00 target price on Korro Bio in a report on Tuesday, October 6th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Korro Bio in a research report on Tuesday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a research note on Friday, October 2nd. Finally, Wall Street Zen raised shares of Korro Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

About Korro Bio

Korro Bio, Inc is a clinical-stage biotechnology company developing RNA editing medicines for genetically driven diseases. The company’s approach is designed to make targeted changes to messenger RNA, potentially correcting or altering disease-related genetic instructions without permanently changing a patient’s DNA.

Korro Bio’s technology platform uses programmable oligonucleotides to guide RNA editing in specific cells and tissues. Its lead development program, KRRO-110, is being developed for alpha-1 antitrypsin deficiency, an inherited disorder caused by mutations in the SERPINA1 gene that can lead to liver and lung disease.