Driehaus Capital Management LLC Takes Position in Korro Bio, Inc. (NASDAQ:KRRO)

Driehaus Capital Management LLC bought a new position in shares of Korro Bio, Inc. (NASDAQ:KRRO) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 116,858 shares of the company’s stock, valued at approximately $3,958,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KRRO. 72 Investment Holdings LLC bought a new stake in Korro Bio in the 4th quarter valued at about $13,269,000. Tri Locum Partners LP bought a new stake in shares of Korro Bio during the second quarter valued at approximately $2,419,000. NEA Management Company LLC raised its position in shares of Korro Bio by 1.7% during the second quarter. NEA Management Company LLC now owns 1,090,793 shares of the company’s stock worth $36,945,000 after purchasing an additional 17,857 shares during the period. Atlas Venture Life Science Advisors LLC grew its position in Korro Bio by 1.6% in the 2nd 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 period. Finally, Bank of New York Mellon Corp bought a new stake in Korro Bio during the 2nd quarter valued at $649,000. 13.18% of the stock is owned by institutional investors.

Korro Bio Price Performance

Shares of NASDAQ:KRRO opened at $34.51 on Monday. The company’s 50-day moving average is $42.09 and its 200 day moving average is $50.56. Korro Bio, Inc. has a fifty-two week low of $9.15 and a fifty-two week high of $97.91.

Korro Bio (NASDAQ:KRRO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.04). On average, analysts predict that Korro Bio, Inc. will post -10.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KRRO has been the subject of a number of analyst reports. William Blair started coverage on shares of Korro Bio in a report on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of Korro Bio in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Korro Bio in a research note on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Korro Bio presently has an average rating of “Buy” and an average target price of $135.00.

About Korro Bio

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).