Kronos Bio (NASDAQ:KRON) PT Lowered to $2.25

Kronos Bio (NASDAQ:KRON) had its target price dropped by equities researchers at HC Wainwright from $2.50 to $2.25 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 120.59% from the stock’s previous close.

Kronos Bio Stock Down 1.0 %

Shares of KRON traded down $0.01 during midday trading on Friday, reaching $1.02. The company had a trading volume of 299,662 shares, compared to its average volume of 311,332. Kronos Bio has a 1-year low of $0.73 and a 1-year high of $2.29. The stock has a market cap of $61.29 million, a PE ratio of -0.52 and a beta of 1.85. The firm has a 50 day simple moving average of $1.14 and a 200-day simple moving average of $1.12.

Kronos Bio (NASDAQ:KRON) last issued its earnings results on Thursday, March 21st. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.08. Kronos Bio had a negative return on equity of 58.79% and a negative net margin of 1,791.87%. The business had revenue of $2.29 million during the quarter, compared to the consensus estimate of $1.50 million. As a group, sell-side analysts anticipate that Kronos Bio will post -1.74 earnings per share for the current fiscal year.

Institutional Trading of Kronos Bio

A number of hedge funds and other institutional investors have recently modified their holdings of KRON. Cerity Partners LLC acquired a new stake in shares of Kronos Bio during the 4th quarter worth about $513,000. Acadian Asset Management LLC increased its position in shares of Kronos Bio by 6.4% during the 3rd quarter. Acadian Asset Management LLC now owns 614,945 shares of the company’s stock worth $798,000 after purchasing an additional 36,909 shares during the last quarter. Finally, Acuta Capital Partners LLC increased its position in shares of Kronos Bio by 128.2% during the 3rd quarter. Acuta Capital Partners LLC now owns 718,739 shares of the company’s stock worth $934,000 after purchasing an additional 403,739 shares during the last quarter. 64.09% of the stock is owned by institutional investors and hedge funds.

Kronos Bio Company Profile

Kronos Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of therapeutics for various cancer and other serious diseases in the United States. The company's lead product candidates are KB-0742, an oral cyclin dependent kinase 9 inhibitor for the treatment of MYC-amplified solid tumors, which is in phase 2 clinical trial; and KB-9558, a core oncogenic transcription factor that drives multiple myeloma.