Kronos Bio (NASDAQ:KRON) Shares Gap Down to $23.82

Kronos Bio, Inc. (NASDAQ:KRON)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $23.82, but opened at $23.25. Kronos Bio shares last traded at $24.48, with a volume of 697 shares traded.

A number of research firms recently commented on KRON. HC Wainwright began coverage on Kronos Bio in a report on Thursday, June 24th. They set a “buy” rating and a $35.00 price target for the company. Zacks Investment Research cut Kronos Bio from a “hold” rating to a “sell” rating in a report on Wednesday, August 18th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kronos Bio currently has a consensus rating of “Buy” and an average target price of $41.50.

The company’s 50-day simple moving average is $20.97 and its 200-day simple moving average is $24.31. The stock has a market capitalization of $1.37 billion and a price-to-earnings ratio of -2.91.

Kronos Bio (NASDAQ:KRON) last issued its quarterly earnings data on Wednesday, August 11th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.09. Research analysts predict that Kronos Bio, Inc. will post -2.75 earnings per share for the current year.

In other news, insider Christopher Dinsmore sold 9,189 shares of Kronos Bio stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $21.91, for a total value of $201,330.99. Following the completion of the sale, the insider now directly owns 105,549 shares in the company, valued at $2,312,578.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 31.20% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Citigroup Inc. increased its stake in Kronos Bio by 45.1% in the second quarter. Citigroup Inc. now owns 2,156 shares of the company’s stock valued at $52,000 after acquiring an additional 670 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Kronos Bio by 78.9% during the first quarter. Royal Bank of Canada now owns 2,283 shares of the company’s stock worth $67,000 after buying an additional 1,007 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Kronos Bio by 148.7% during the second quarter. Ameritas Investment Partners Inc. now owns 3,044 shares of the company’s stock worth $73,000 after buying an additional 1,820 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Kronos Bio by 213.1% during the second quarter. Legal & General Group Plc now owns 4,678 shares of the company’s stock worth $112,000 after buying an additional 3,184 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Kronos Bio during the second quarter worth $189,000. 68.33% of the stock is currently owned by institutional investors and hedge funds.

About Kronos Bio (NASDAQ:KRON)

Kronos Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of novel cancer therapeutics. The company's product engine focuses on dysregulated transcription factors and the transcriptional regulatory networks that drive oncogenic activity. Its lead product candidate is entospletinib (ENTO), is an orally administered, selective spleen tyrosine kinase inhibitor for acute myeloid leukemia patients.

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