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

by · The Cerbat Gem

Korro Bio, Inc. (NASDAQ:KRRO – Get Free Report) major shareholder Lynx1 Capital Management Lp bought 5,222 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $11.40 per share, for a total transaction of $59,530.80. Following the completion of the transaction, the insider owned 1,543,518 shares in the company, valued at $17,596,105.20. This represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

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

Korro Bio Stock Performance

Shares of NASDAQ KRRO traded up $0.24 during trading on Thursday, hitting $13.59. The company had a trading volume of 49,061 shares, compared to its average volume of 200,486. The company has a market cap of $200.18 million, a P/E ratio of -1.36 and a beta of 3.04. Korro Bio, Inc. has a 52 week low of $5.20 and a 52 week high of $55.89. The business’s 50-day moving average is $12.30 and its 200 day moving average is $12.16.

Korro Bio (NASDAQ:KRRO – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($1.07) EPS for the quarter, topping the consensus estimate of ($1.34) by $0.27. The firm had revenue of $1.50 million for the quarter, compared to the consensus estimate of $0.21 million. Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 114.26%. On average, research analysts expect that Korro Bio, Inc. will post -4.97 EPS for the current year.

Wall Street Analysts Forecast Growth

KRRO has been the subject of a number of recent research reports. JonesTrading raised shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. HC Wainwright decreased their price objective on Korro Bio from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a report on Monday, July 6th. Wall Street Zen upgraded shares of Korro Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Citigroup started coverage on shares of Korro Bio in a report on Monday, May 18th. They set a “buy” rating and a $21.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.71.

View Our Latest Analysis on KRRO

Institutional Investors Weigh In On Korro Bio

Several institutional investors have recently added to or reduced their stakes 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 raised its position 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 buying an additional 2,352 shares during the last quarter. Guggenheim Capital LLC bought a new stake in Korro Bio in the 4th quarter valued at approximately $84,000. Jain Global LLC bought a new stake in Korro Bio in the 4th quarter valued at approximately $85,000. Finally, Deutsche Bank AG raised its holdings in shares of Korro Bio by 241.9% in the fourth quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock valued at $102,000 after purchasing an additional 9,027 shares during the last quarter. 13.18% of the stock is owned by institutional investors.

About Korro Bio

(Get Free Report)

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.

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