Kalehua Capital Management LLC Acquires Shares of 109,376 Korro Bio, Inc. $KRRO

Kalehua Capital Management LLC acquired a new position in Korro Bio, Inc. (NASDAQ:KRRO) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 109,376 shares of the company’s stock, valued at approximately $1,238,000. Korro Bio accounts for about 0.9% of Kalehua Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Kalehua Capital Management LLC owned about 0.76% of Korro Bio at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Korro Bio during the 3rd quarter worth approximately $39,000. Wells Fargo & Company MN grew its stake in Korro Bio by 45.5% in the 4th 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. Bank of New York Mellon Corp increased its holdings in Korro Bio by 15.2% in the 1st 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 in the last quarter. Millennium Management LLC raised its position in Korro Bio by 1.8% during the third quarter. Millennium Management LLC now owns 260,333 shares of the company’s stock worth $12,467,000 after acquiring an additional 4,650 shares during the period. Finally, Algert Global LLC acquired a new position in Korro Bio during the third quarter worth $340,000. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Korro Bio

In other Korro Bio news, CEO Ram Aiyar sold 15,152 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $12.98, for a total transaction of $196,672.96. Following the transaction, the chief executive officer directly owned 74,848 shares in the company, valued at $971,527.04. This represents a 16.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Loic A. Vincent sold 3,418 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $10.83, for a total value of $37,016.94. Following the transaction, the insider directly owned 18,297 shares in the company, valued at approximately $198,156.51. The trade was a 15.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 306,026 shares of company stock worth $4,309,637 in the last ninety days. 4.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. HC Wainwright cut their target price on shares of Korro Bio from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Lifesci Capital upgraded Korro Bio to a “strong-buy” rating in a report on Friday, May 29th. Citigroup began coverage on Korro Bio in a research note on Monday, May 18th. They set a “buy” rating and a $21.00 price objective for the company. JonesTrading upgraded Korro Bio from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Korro Bio in a research note on Monday, July 6th. Three 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.71.

Korro Bio Price Performance

Shares of NASDAQ:KRRO opened at $10.64 on Monday. Korro Bio, Inc. has a 52-week low of $5.20 and a 52-week high of $55.89. The stock has a market cap of $153.43 million, a P/E ratio of -0.91 and a beta of 3.00. The business has a fifty day moving average of $12.30 and a two-hundred day moving average of $11.92.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.09). Korro Bio had a negative return on equity of 117.86% and a negative net margin of 1,834.48%. On average, equities analysts anticipate that Korro Bio, Inc. will post -5.36 earnings per share for the current year.

About Korro Bio

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.