BNP Paribas Financial Markets Purchases 4,470 Shares of Korro Bio, Inc. (NASDAQ:KRRO)

BNP Paribas Financial Markets boosted its position in Korro Bio, Inc. (NASDAQ:KRRO) by 1,018.2% in the third quarter, HoldingsChannel reports. The firm owned 4,909 shares of the company’s stock after buying an additional 4,470 shares during the quarter. BNP Paribas Financial Markets’ holdings in Korro Bio were worth $164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KRRO. Atlas Venture Life Science Advisors LLC boosted its stake in shares of 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 worth $38,515,000 after buying an additional 17,857 shares during the last quarter. NEA Management Company LLC lifted its holdings in 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 acquiring an additional 17,857 shares during the period. Point72 Asset Management L.P. boosted its position in Korro Bio by 71.6% in the second quarter. Point72 Asset Management L.P. now owns 456,085 shares of the company’s stock worth $15,448,000 after purchasing an additional 190,259 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Korro Bio in the 2nd quarter valued at $3,958,000. Finally, Millennium Management LLC increased its position in shares of Korro Bio by 38.3% during the 2nd quarter. Millennium Management LLC now owns 84,201 shares of the company’s stock valued at $2,852,000 after purchasing an additional 23,307 shares during the last quarter. Hedge funds and other institutional investors own 13.18% of the company’s stock.

Insider Activity at Korro Bio

In related news, CFO Vineet Agarwal sold 800 shares of the stock in a transaction dated 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 the SEC website. 5.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Korro Bio Stock Performance

Shares of Korro Bio stock opened at $49.76 on Wednesday. Korro Bio, Inc. has a 52-week low of $30.00 and a 52-week high of $98.00. The stock’s 50-day simple moving average is $55.34 and its 200 day simple moving average is $46.09.

Korro Bio (NASDAQ:KRRO) last posted its earnings results 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. On average, sell-side analysts predict that Korro Bio, Inc. will post -9.63 earnings per share for the current year.

Korro Bio Company 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).