Korro Bio (NASDAQ:KRRO) Major Shareholder Lynx1 Capital Management Lp Purchases 1,462 Shares of Stock

Korro Bio, Inc. (NASDAQ:KRRO) major shareholder Lynx1 Capital Management Lp acquired 1,462 shares of the company’s stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $13.19 per share, for a total transaction of $19,283.78. Following the completion of the acquisition, the insider owned 1,544,980 shares of the company’s stock, valued at $20,378,286.20. This trade represents a 0.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, August 6th, Lynx1 Capital Management Lp bought 5,222 shares of Korro Bio stock. The shares were acquired at an average price of $11.40 per share, for a total transaction of $59,530.80.

Korro Bio Stock Performance

Shares of NASDAQ KRRO opened at $13.29 on Friday. The firm has a fifty day moving average of $12.34 and a 200 day moving average of $12.18. The firm has a market cap of $195.76 million, a PE ratio of -1.33 and a beta of 3.04. Korro Bio, Inc. has a one year low of $5.20 and a one year high of $55.89.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in 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 in the last quarter. Raymond James Financial Inc. raised its position in Korro Bio by 357.6% in the 2nd quarter. Raymond James Financial Inc. now owns 83,392 shares of the company’s stock valued at $1,042,000 after purchasing an additional 65,170 shares in the last quarter. Bank of America Corp DE boosted 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 buying an additional 23,615 shares during the period. Vanguard Group Inc. boosted its stake in shares of Korro Bio by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 395,659 shares of the company’s stock valued at $18,948,000 after buying an additional 8,921 shares during the period. Finally, Blair William & Co. IL acquired a new position in shares of Korro Bio during the third quarter worth about $467,000. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KRRO shares. HC Wainwright decreased their target price 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. Citigroup initiated coverage on shares of Korro Bio in a research note on Monday, May 18th. They issued a “buy” rating and a $21.00 price target on the stock. Wall Street Zen raised Korro Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. JonesTrading raised shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a research report on Monday, July 6th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.71.

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.