Korro Bio, Inc. (NASDAQ:KRRO) Short Interest Update

Korro Bio, Inc. (NASDAQ:KRRO) was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 295,000 shares, a growth of 5.1% from the July 31st total of 280,700 shares. Currently, 5.0% of the shares of the company are short sold. Based on an average daily trading volume, of 83,600 shares, the short-interest ratio is presently 3.5 days.

Korro Bio Trading Down 4.4 %

NASDAQ:KRRO opened at $42.41 on Thursday. Korro Bio has a 52-week low of $9.15 and a 52-week high of $97.91. The business’s fifty day moving average is $43.32 and its 200 day moving average is $52.14.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). Research analysts forecast that Korro Bio will post -10.29 earnings per share for the current year.

Institutional Investors Weigh In On Korro Bio

A number of large investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. purchased a new position in Korro Bio in the 2nd quarter worth approximately $28,000. Lynx1 Capital Management LP purchased a new position in Korro Bio during the second quarter valued at $129,000. Rhumbline Advisers bought a new position in shares of Korro Bio during the 2nd quarter valued at approximately $279,000. Bank of New York Mellon Corp purchased a new position in Korro Bio during the second quarter valued at approximately $649,000. Finally, Tri Locum Partners LP bought a new stake in Korro Bio during the second quarter valued at about $2,419,000. Institutional investors own 13.18% of the company’s stock.

Wall Street Analyst Weigh In

KRRO has been the topic of several research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Korro Bio in a research note on Wednesday, May 15th. William Blair began coverage on Korro Bio in a research note on Wednesday, August 14th. They set an “outperform” rating and a $180.00 price target on the stock. Royal Bank of Canada lowered their price objective on Korro Bio from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Korro Bio in a research report on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Korro Bio has a consensus rating of “Buy” and a consensus price target of $135.00.

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).