Korro Bio, Inc. (NASDAQ:KRRO) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC lifted its position in shares of Korro Bio, Inc. (NASDAQ:KRRO) by 129.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,639 shares of the company’s stock after acquiring an additional 2,050 shares during the period. MetLife Investment Management LLC’s holdings in Korro Bio were worth $122,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KRRO. Atlas Venture Life Science Advisors LLC increased its stake in Korro Bio by 1.6% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock valued at $38,515,000 after purchasing an additional 17,857 shares during the last quarter. NEA Management Company LLC grew its position in shares of Korro Bio by 1.7% during the 2nd quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock valued at $36,945,000 after buying an additional 17,857 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Korro Bio by 71.6% during the second quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock worth $15,448,000 after acquiring an additional 190,259 shares during the period. Driehaus Capital Management LLC acquired a new stake in Korro Bio during the second quarter worth about $3,958,000. Finally, Millennium Management LLC lifted its holdings in Korro Bio by 38.3% in the second quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock worth $2,852,000 after acquiring an additional 23,307 shares during the last quarter. 13.18% of the stock is currently owned by institutional investors.

Korro Bio Trading Up 11.5 %

Shares of KRRO stock opened at $47.49 on Tuesday. Korro Bio, Inc. has a 1 year low of $30.00 and a 1 year high of $98.00. The stock has a fifty day moving average of $53.69 and a two-hundred day moving average of $46.19.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) earnings per share for the quarter, topping the consensus estimate of ($2.55) by $0.29. As a group, research analysts predict that Korro Bio, Inc. will post -9.63 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on KRRO shares. Raymond James assumed coverage on Korro Bio in a report on Monday, October 21st. They set a “strong-buy” rating and a $153.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 target price on shares of Korro Bio in a research report on Friday, November 22nd. Royal Bank of Canada boosted their price target on shares of Korro Bio from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of Korro Bio in a report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $142.17.

Insider Transactions at Korro Bio

In related news, CFO Vineet Agarwal sold 800 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $70.00, for a total transaction of $56,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 5.40% of the company’s stock.

Korro Bio 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).