Vestcor Inc Acquires Shares of 3,000 Korro Bio, Inc. (NASDAQ:KRRO)

Vestcor Inc bought a new position in Korro Bio, Inc. (NASDAQ:KRRO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,000 shares of the company’s stock, valued at approximately $100,000.

Several other institutional investors have also recently made changes to their positions in KRRO. Brown Brothers Harriman & Co. bought a new stake in Korro Bio in the second quarter worth about $28,000. Quest Partners LLC raised its holdings 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 period. MetLife Investment Management LLC lifted its stake 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 last quarter. Lynx1 Capital Management LP purchased a new position in Korro Bio during the 2nd quarter valued at $129,000. Finally, BNP Paribas Financial Markets grew its position in Korro Bio by 1,018.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,909 shares of the company’s stock valued at $164,000 after acquiring an additional 4,470 shares during the last quarter. Institutional investors own 13.18% of the company’s stock.

Korro Bio Stock Performance

NASDAQ:KRRO opened at $46.88 on Friday. The firm has a 50-day simple moving average of $54.80 and a 200-day simple moving average of $46.17. Korro Bio, Inc. has a one year low of $30.00 and a one year high of $98.00.

Korro Bio (NASDAQ:KRRO) last issued 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. On average, research analysts forecast that Korro Bio, Inc. will post -9.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in 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 report on Monday, October 21st. Raymond James initiated coverage on shares of Korro Bio in a research note on Monday, October 21st. They issued a “strong-buy” rating and a $153.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Korro Bio in a research note on Friday, November 22nd. Finally, William Blair reissued 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $142.17.

Insider Buying and Selling

In other Korro Bio news, CFO Vineet Agarwal sold 800 shares of Korro Bio stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $70.00, for a total value of $56,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.40% of the stock is currently owned by company insiders.

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).