Short Interest in Korro Bio, Inc. (NASDAQ:KRRO) Grows By 50.1%

Korro Bio, Inc. (NASDAQ:KRRO) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 653,900 shares, an increase of 50.1% from the December 15th total of 435,500 shares. Approximately 11.7% of the shares of the company are sold short. Based on an average daily volume of 140,800 shares, the days-to-cover ratio is presently 4.6 days.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KRRO. Oppenheimer started coverage on Korro Bio in a research note on Friday, January 10th. They set an “outperform” rating and a $155.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Korro Bio in a report on Friday, November 22nd. William Blair restated an “outperform” rating on shares of Korro Bio in a research report on Wednesday, November 13th. Raymond James started coverage on Korro Bio in a research report on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price on the stock. Finally, Royal Bank of Canada increased 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. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $144.00.

Insider Activity

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of the business’s stock in a transaction that occurred on 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 filing with the SEC, which is accessible through the SEC website. 5.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KRRO. Brown Brothers Harriman & Co. acquired a new stake in Korro Bio during the second quarter worth about $28,000. Quest Partners LLC lifted its holdings in shares of Korro Bio by 172.1% during the 3rd quarter. Quest Partners LLC now owns 1,777 shares of the company’s stock worth $59,000 after acquiring an additional 1,124 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Korro Bio by 129.0% during the 3rd quarter. MetLife Investment Management LLC now owns 3,639 shares of the company’s stock worth $122,000 after acquiring an additional 2,050 shares during the period. Vestcor Inc acquired a new stake in shares of Korro Bio during the 3rd quarter worth approximately $100,000. Finally, Lynx1 Capital Management LP bought a new position in Korro Bio in the second quarter valued at approximately $129,000. Institutional investors own 13.18% of the company’s stock.

Korro Bio Stock Up 0.1 %

Shares of KRRO traded up $0.02 during mid-day trading on Friday, hitting $37.00. 58,033 shares of the company’s stock were exchanged, compared to its average volume of 112,567. The stock’s 50-day simple moving average is $45.43 and its 200-day simple moving average is $46.05. Korro Bio has a 52 week low of $30.00 and a 52 week high of $98.00.

Korro Bio (NASDAQ:KRRO) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.26) EPS for the quarter, topping analysts’ consensus estimates of ($2.55) by $0.29. Equities research analysts forecast that Korro Bio will post -9.63 EPS 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).