Kronos Bio (NASDAQ:KRON) Cut to Neutral at Piper Sandler

Piper Sandler cut shares of Kronos Bio (NASDAQ:KRON) from an overweight rating to a neutral rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. The brokerage currently has $1.00 target price on the stock, down from their previous target price of $6.00.

KRON has been the topic of several other research reports. TD Cowen cut Kronos Bio from a “buy” rating to a “hold” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $2.25 price objective on shares of Kronos Bio in a research note on Monday, August 19th.

Kronos Bio Price Performance

KRON opened at $0.85 on Thursday. The stock’s 50 day moving average price is $0.95 and its 200-day moving average price is $1.03. Kronos Bio has a one year low of $0.69 and a one year high of $1.60.

Hedge Funds Weigh In On Kronos Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Kronos Bio during the 1st quarter valued at about $71,000. Forefront Analytics LLC raised its stake in shares of Kronos Bio by 75.0% during the 2nd quarter. Forefront Analytics LLC now owns 134,998 shares of the company’s stock valued at $167,000 after buying an additional 57,867 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Kronos Bio by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 774,559 shares of the company’s stock valued at $1,005,000 after buying an additional 113,618 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Kronos Bio by 14.6% during the 1st quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock valued at $2,533,000 after buying an additional 247,918 shares during the last quarter. Hedge funds and other institutional investors own 64.09% of the company’s stock.

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. Its 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.