Kalehua Capital Management LLC Takes $1.24 Million Position in Korro Bio, Inc. $KRRO

Kalehua Capital Management LLC bought a new stake in Korro Bio, Inc. (NASDAQ:KRRO) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 109,376 shares of the company’s stock, valued at approximately $1,238,000. Korro Bio accounts for 0.9% of Kalehua Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in Korro Bio in the third quarter valued at $39,000. Wells Fargo & Company MN raised its stake in Korro Bio by 45.5% in the fourth 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 in the last quarter. Guggenheim Capital LLC acquired a new position in shares of Korro Bio during the 4th quarter worth about $84,000. Jain Global LLC acquired a new position in shares of Korro Bio during the 4th quarter worth about $85,000. Finally, Deutsche Bank AG increased its holdings in shares of Korro Bio by 241.9% in the 4th quarter. Deutsche Bank AG now owns 12,758 shares of the company’s stock valued at $102,000 after acquiring an additional 9,027 shares during the last quarter. 13.18% of the stock is owned by institutional investors and hedge funds.

Korro Bio Stock Performance

Korro Bio stock opened at $10.64 on Monday. The company has a market capitalization of $153.43 million, a P/E ratio of -0.91 and a beta of 3.00. Korro Bio, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $55.89. The stock has a 50-day simple moving average of $12.30 and a 200-day simple moving average of $11.92.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Thursday, May 7th. The company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.09). Korro Bio had a negative net margin of 1,834.48% and a negative return on equity of 117.86%. As a group, analysts forecast that Korro Bio, Inc. will post -5.36 earnings per share for the current year.

Insider Activity

In other news, CEO Ram Aiyar sold 15,152 shares of Korro Bio stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $12.98, for a total value of $196,672.96. Following the sale, the chief executive officer owned 74,848 shares of the company’s stock, valued at $971,527.04. The trade was a 16.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Todd Chappell sold 3,168 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $10.83, for a total transaction of $34,309.44. Following the transaction, the chief operating officer owned 16,964 shares in the company, valued at approximately $183,720.12. This trade represents a 15.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 306,026 shares of company stock valued at $4,309,637. 4.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KRRO has been the topic of several research analyst reports. Citigroup initiated coverage on Korro Bio in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 target price on the stock. Wall Street Zen raised shares of Korro Bio from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright reduced their price objective on shares of Korro Bio from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. JonesTrading upgraded shares of Korro Bio from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. Finally, Lifesci Capital raised shares of Korro Bio to a “strong-buy” rating in a research report on Friday, May 29th. 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 company’s stock. According to data from MarketBeat.com, Korro Bio has an average rating of “Moderate Buy” and an average price target of $16.71.

Korro Bio Company Profile

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.