Lynx1 Capital Management Lp Buys 5,222 Shares of Korro Bio (NASDAQ:KRRO) Stock

Korro Bio, Inc. (NASDAQ:KRRO) major shareholder Lynx1 Capital Management Lp bought 5,222 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $11.40 per share, for a total transaction of $59,530.80. Following the completion of the transaction, the insider owned 1,543,518 shares in the company, valued at $17,596,105.20. This represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Lynx1 Capital Management Lp also recently made the following trade(s):

• On Monday, August 10th, Lynx1 Capital Management Lp purchased 1,462 shares of Korro Bio stock. The shares were purchased at an average price of $13.19 per share, with a total value of $19,283.78.

Korro Bio Stock Performance

Shares of NASDAQ KRRO traded up $0.24 during trading on Thursday, hitting $13.59. The company had a trading volume of 49,061 shares, compared to its average volume of 200,486. The company has a market cap of $200.18 million, a P/E ratio of -1.36 and a beta of 3.04. Korro Bio, Inc. has a 52 week low of $5.20 and a 52 week high of $55.89. The business’s 50-day moving average is $12.30 and its 200 day moving average is $12.16.

Korro Bio (NASDAQ:KRRO) last posted its earnings results on Thursday, August 6th. The company reported ($1.07) EPS for the quarter, topping the consensus estimate of ($1.34) by $0.27. The firm had revenue of $1.50 million for the quarter, compared to the consensus estimate of $0.21 million. Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 114.26%. On average, research analysts expect that Korro Bio, Inc. will post -4.97 EPS for the current year.

Wall Street Analysts Forecast Growth

KRRO has been the subject of a number of recent research reports. JonesTrading raised shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. HC Wainwright decreased their price objective on Korro Bio from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Korro Bio in a report on Monday, July 6th. Wall Street Zen upgraded shares of Korro Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Citigroup started coverage on shares of Korro Bio in a report on Monday, May 18th. They set a “buy” rating and a $21.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.71.

Institutional Investors Weigh In On Korro Bio

Several institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in shares of Korro Bio in the third quarter valued at about $39,000. Wells Fargo & Company MN raised its position in Korro Bio by 45.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,522 shares of the company’s stock valued at $60,000 after buying an additional 2,352 shares during the last quarter. Guggenheim Capital LLC bought a new stake in Korro Bio in the 4th quarter valued at approximately $84,000. Jain Global LLC bought a new stake in Korro Bio in the 4th quarter valued at approximately $85,000. Finally, Deutsche Bank AG raised its holdings in shares of Korro Bio by 241.9% in the fourth quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock valued at $102,000 after purchasing an additional 9,027 shares during the last quarter. 13.18% of the stock is owned by institutional investors.

About Korro Bio

Korro Bio, Inc is a clinical-stage biotechnology company focused on harnessing advanced protein engineering and synthetic biology to develop novel enzyme therapies and live microbial therapeutics. The company’s proprietary platform integrates directed evolution, high-throughput screening and computational design to optimize biological catalysts for a wide range of applications. By combining machine learning with experimental biology, Korro Bio seeks to accelerate the discovery and development of next-generation treatments for rare genetic disorders and complex metabolic diseases.

The company’s pipeline features both engineered enzyme therapeutics and live biotherapeutics.