Korro Bio, Inc. (NASDAQ:KRRO) Short Interest Down 6.5% in November

Korro Bio, Inc. (NASDAQ:KRRO) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 244,900 shares, a decrease of 6.5% from the October 31st total of 262,000 shares. Approximately 4.4% of the company’s stock are short sold. Based on an average daily volume of 120,200 shares, the days-to-cover ratio is currently 2.0 days.

Korro Bio Trading Up 2.8 %

Korro Bio stock opened at $53.50 on Tuesday. The business’s 50-day simple moving average is $52.82 and its two-hundred day simple moving average is $46.50. Korro Bio has a fifty-two week low of $30.00 and a fifty-two week high of $98.00.

Korro Bio (NASDAQ:KRRO) last issued its earnings results on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, beating analysts’ consensus estimates of ($2.55) by $0.29. As a group, analysts expect that Korro Bio will post -9.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CFO Vineet Agarwal sold 800 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Korro Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. purchased a new stake in Korro Bio in the second quarter valued at $28,000. Quest Partners LLC boosted its stake in shares of Korro Bio by 172.1% in the third quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after buying an additional 1,124 shares during the last quarter. Vestcor Inc acquired a new stake in Korro Bio during the third quarter worth about $100,000. MetLife Investment Management LLC raised its position in Korro Bio by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock valued at $122,000 after acquiring an additional 2,050 shares in the last quarter. Finally, Lynx1 Capital Management LP acquired a new position in Korro Bio in the second quarter valued at approximately $129,000. Institutional investors and hedge funds own 13.18% of the company’s stock.

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).