HC Wainwright Trims Kronos Bio (NASDAQ:KRON) Target Price to $2.25

Kronos Bio (NASDAQ:KRON) had its price objective decreased by HC Wainwright from $2.50 to $2.25 in a research note published on Friday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Kronos Bio Trading Up 1.0 %

Kronos Bio stock traded up $0.01 on Friday, hitting $1.03. 221,698 shares of the stock traded hands, compared to its average volume of 310,303. The firm has a market cap of $61.89 million, a P/E ratio of -0.51 and a beta of 1.85. The business’s fifty day simple moving average is $1.14 and its 200 day simple moving average is $1.12. Kronos Bio has a 1 year low of $0.73 and a 1 year high of $2.29.

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

Institutional Investors Weigh In On Kronos Bio

Several large investors have recently bought and sold shares of KRON. Acadian Asset Management LLC increased its holdings in Kronos Bio by 6.4% in the 3rd quarter. Acadian Asset Management LLC now owns 614,945 shares of the company’s stock worth $798,000 after buying an additional 36,909 shares in the last quarter. Acuta Capital Partners LLC grew its stake 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 valued at $934,000 after purchasing an additional 403,739 shares during the period. Finally, Cerity Partners LLC bought a new stake in shares of Kronos Bio during the 4th quarter valued at about $513,000. 64.09% of the stock is currently owned by institutional investors.

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.