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 December. As of December 31st, there was short interest totalling 653,900 shares, an increase of 50.1% from the December 15th total of 435,500 shares. Based on an average trading volume of 140,800 shares, the short-interest ratio is presently 4.6 days. Currently, 11.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

KRRO has been the topic of several analyst reports. Oppenheimer began coverage on shares of Korro Bio in a report on Friday, January 10th. They issued an “outperform” rating and a $155.00 price objective on the stock. Royal Bank of Canada raised their price target on Korro Bio from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a research note on Wednesday, November 13th. Raymond James initiated coverage on Korro Bio in a research note on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $115.00 target price on shares of Korro Bio in a report on Friday, November 22nd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $144.00.

Korro Bio Stock Up 0.1 %

Shares of Korro Bio stock traded up $0.02 on Friday, hitting $37.00. The company had a trading volume of 58,033 shares, compared to its average volume of 112,567. The stock has a 50-day moving average of $45.43 and a 200-day moving average of $46.05. Korro Bio has a twelve month low of $30.00 and a twelve month high of $98.00.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. On average, equities research analysts anticipate that Korro Bio will post -9.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Korro Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of KRRO. Brown Brothers Harriman & Co. bought a new position in shares of Korro Bio during the 2nd quarter worth approximately $28,000. Quest Partners LLC boosted its holdings in Korro Bio by 172.1% during the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after purchasing an additional 1,124 shares during the last quarter. Vestcor Inc bought a new position in Korro Bio in the third quarter valued at $100,000. MetLife Investment Management LLC increased its stake in Korro Bio by 129.0% in the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after buying an additional 2,050 shares during the last quarter. Finally, Lynx1 Capital Management LP bought a new stake in Korro Bio during the 2nd quarter worth about $129,000. Institutional investors and hedge funds own 13.18% of the company’s stock.

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).