Korro Bio (NASDAQ:KRRO) Major Shareholder Lynx1 Capital Management Lp Purchases 25,124 Shares of Company Stock

Korro Bio, Inc. (NASDAQ:KRRO) major shareholder Lynx1 Capital Management Lp acquired 25,124 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were bought at an average price of $11.75 per share, for a total transaction of $295,207.00. Following the transaction, the insider owned 1,624,789 shares of the company’s stock, valued at $19,091,270.75. This trade represents a 1.57% 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 Friday, October 23rd, Lynx1 Capital Management Lp bought 2,510 shares of Korro Bio stock. The stock was bought at an average cost of $12.11 per share, with a total value of $30,396.10.
• 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 purchased 5,222 shares of Korro Bio stock. The shares were purchased at an average cost of $11.40 per share, for a total transaction of $59,530.80.

Korro Bio Stock Performance

Shares of KRRO stock traded up $0.04 on Monday, reaching $12.02. The stock had a trading volume of 179,938 shares, compared to its average volume of 183,916. Korro Bio, Inc. has a 1 year low of $5.20 and a 1 year high of $42.70. The company has a 50 day simple moving average of $11.38 and a 200 day simple moving average of $11.77.

Korro Bio (NASDAQ:KRRO) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.07) EPS for the quarter, topping the consensus estimate of ($1.34) by $0.27. On average, equities analysts forecast that Korro Bio, Inc. will post -4.95 earnings per share for the current year.

Institutional Investors Weigh In On Korro Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new position in Korro Bio during the second quarter valued at approximately $210,000. Hsbc Holdings PLC bought a new position in shares of Korro Bio in the second quarter worth approximately $233,000. Ieq Capital LLC purchased a new stake in shares of Korro Bio in the second quarter worth $280,000. Bank of New York Mellon Corp increased its stake in shares of 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 purchasing an additional 2,875 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position 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 valued at $407,000 after purchasing an additional 8,381 shares during the period. Institutional investors own 13.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KRRO shares. 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. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Korro Bio in a research report on Tuesday, October 6th. Jefferies Financial Group set a $15.00 price objective on Korro Bio in a research note on Tuesday, October 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Korro Bio in a research report on Friday, October 2nd. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently 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.