Jane Street Group LLC Makes New $289,000 Investment in Korro Bio, Inc. (NASDAQ:KRRO)

Jane Street Group LLC bought a new position in shares of Korro Bio, Inc. (NASDAQ:KRRO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,604 shares of the company’s stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KRRO. Rhumbline Advisers grew its holdings in Korro Bio by 7.8% in the fourth quarter. Rhumbline Advisers now owns 9,602 shares of the company’s stock valued at $366,000 after purchasing an additional 691 shares during the period. Legal & General Group Plc grew its holdings in Korro Bio by 664.1% in the fourth quarter. Legal & General Group Plc now owns 4,325 shares of the company’s stock valued at $165,000 after purchasing an additional 3,759 shares during the period. Wellington Management Group LLP grew its holdings in Korro Bio by 11.5% in the fourth quarter. Wellington Management Group LLP now owns 14,553 shares of the company’s stock valued at $554,000 after purchasing an additional 1,501 shares during the period. Barclays PLC purchased a new stake in Korro Bio in the fourth quarter valued at approximately $395,000. Finally, Wells Fargo & Company MN grew its holdings in Korro Bio by 32.4% in the fourth quarter. Wells Fargo & Company MN now owns 3,392 shares of the company’s stock valued at $129,000 after purchasing an additional 831 shares during the period. Institutional investors and hedge funds own 13.18% of the company’s stock.

Korro Bio Stock Performance

KRRO stock opened at $11.93 on Wednesday. The stock has a market cap of $112.03 million, a P/E ratio of -1.26 and a beta of 2.66. The firm has a 50 day simple moving average of $14.91 and a 200 day simple moving average of $28.57. Korro Bio, Inc. has a 52 week low of $10.29 and a 52 week high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Wednesday, May 7th. The company reported ($2.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.60) by $0.11. The business had revenue of $2.55 million during the quarter, compared to analyst estimates of $0.13 million. Sell-side analysts predict that Korro Bio, Inc. will post -9.52 EPS for the current year.

Analysts Set New Price Targets

KRRO has been the subject of several research reports. Royal Bank of Canada decreased their price objective on shares of Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, March 19th. Oppenheimer decreased their price objective on shares of Korro Bio from $155.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Chardan Capital reiterated a “buy” rating and set a $25.00 price objective on shares of Korro Bio in a research note on Tuesday, May 13th. Cantor Fitzgerald upgraded shares of Korro Bio to a “strong-buy” rating in a research note on Tuesday, April 29th. Finally, HC Wainwright decreased their price objective on shares of Korro Bio from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Korro Bio has a consensus rating of “Buy” and an average price target of $102.43.

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).