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

Kronos Bio (NASDAQ:KRONFree Report) had its price objective reduced by HC Wainwright from $2.50 to $2.25 in a research note issued to investors on Friday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Kronos Bio Trading Up 1.0 %

NASDAQ:KRON traded up $0.01 during mid-day trading on Friday, hitting $1.03. 221,698 shares of the company’s stock were exchanged, compared to its average volume of 310,303. The firm has a market capitalization of $61.89 million, a P/E ratio of -0.51 and a beta of 1.85. Kronos Bio has a fifty-two week low of $0.73 and a fifty-two week high of $2.29. The company has a 50 day simple moving average of $1.14 and a 200-day simple moving average of $1.12.

Kronos Bio (NASDAQ:KRONGet Free Report) last issued its quarterly 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 net margin of 1,791.87% and a negative return on equity of 58.79%. The firm had revenue of $2.29 million for the quarter, compared to the consensus estimate of $1.50 million. As a group, analysts expect that Kronos Bio will post -1.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted 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 valued at $798,000 after acquiring an additional 36,909 shares during the period. Acuta Capital Partners LLC increased its stake in 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 in the last quarter. Finally, Cerity Partners LLC bought a new stake in Kronos Bio during the 4th quarter valued at $513,000. Institutional investors and hedge funds own 64.09% of the company’s stock.

About Kronos Bio

(Get Free Report)

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.

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