Kronos Bio (NASDAQ:KRON) Price Target Cut to $2.25 by Analysts at HC Wainwright

Kronos Bio (NASDAQ:KRON) had its price objective reduced by HC Wainwright from $2.50 to $2.25 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Kronos Bio Stock Down 1.0 %

NASDAQ KRON traded down $0.01 during trading on Friday, hitting $1.02. The stock had a trading volume of 299,881 shares, compared to its average volume of 498,825. The company has a market capitalization of $61.29 million, a PE ratio of -0.52 and a beta of 1.85. The firm has a 50 day moving average price of $1.14 and a 200 day moving average price of $1.12. Kronos Bio has a twelve month low of $0.73 and a twelve month high of $2.29.

Kronos Bio (NASDAQ:KRON) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.08. The firm had revenue of $2.29 million during the quarter, compared to analysts’ expectations of $1.50 million. Kronos Bio had a negative net margin of 1,791.87% and a negative return on equity of 58.79%. On average, sell-side analysts anticipate that Kronos Bio will post -1.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cerity Partners LLC purchased a new position in shares of Kronos Bio in the 4th quarter valued at about $513,000. Acadian Asset Management LLC lifted its stake in Kronos Bio by 6.4% in the third quarter. Acadian Asset Management LLC now owns 614,945 shares of the company’s stock worth $798,000 after acquiring an additional 36,909 shares during the last quarter. Finally, Acuta Capital Partners LLC lifted its stake in Kronos Bio by 128.2% in the third quarter. Acuta Capital Partners LLC now owns 718,739 shares of the company’s stock worth $934,000 after acquiring an additional 403,739 shares during the last quarter. 64.09% of the stock is owned by institutional investors and hedge funds.

About Kronos Bio

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.