Arrowstreet Capital Limited Partnership Sells 744,267 Shares of Keros Therapeutics, Inc. $KROS

Key Points

• Arrowstreet Capital cut its Keros Therapeutics stake by 55.8%, selling 744,267 shares and retaining 590,249 shares worth approximately $6.5 million. Institutional investors collectively own 71.56% of KROS.
• Keros reported weaker-than-expected quarterly results, with a loss of $1.21 per share versus the $1.02 consensus estimate and revenue of $0.37 million versus expectations of $1.93 million.
• KROS opened at $10.07, near its 12-month low of $9.69, while analysts maintained an overall “Hold” rating with an average price target of $20.40; several research firms recently downgraded the stock to “Strong Sell” or “Sell.”

Arrowstreet Capital Limited Partnership reduced its holdings in shares of Keros Therapeutics, Inc. (NASDAQ:KROS - Free Report) by 55.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 590,249 shares of the company's stock after selling 744,267 shares during the period. Arrowstreet Capital Limited Partnership owned about 2.98% of Keros Therapeutics worth $6,516,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Globeflex Capital L P purchased a new stake in shares of Keros Therapeutics in the 1st quarter worth $418,000. Dimensional Fund Advisors LP lifted its position in Keros Therapeutics by 453.9% during the first quarter. Dimensional Fund Advisors LP now owns 321,360 shares of the company's stock valued at $3,547,000 after purchasing an additional 263,347 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Keros Therapeutics during the first quarter valued at $658,000. Hsbc Holdings PLC purchased a new position in Keros Therapeutics during the first quarter valued at $599,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in Keros Therapeutics by 40.2% during the first quarter. Y Intercept Hong Kong Ltd now owns 164,483 shares of the company's stock valued at $1,816,000 after purchasing an additional 47,122 shares during the period. 71.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Julius Knowles sold 2,625 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $10.73, for a total transaction of $28,166.25. Following the completion of the transaction, the director directly owned 10,958 shares in the company, valued at approximately $117,579.34. This represents a 19.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nima Farzan sold 2,625 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $10.73, for a total transaction of $28,166.25. Following the completion of the transaction, the director directly owned 9,767 shares of the company's stock, valued at approximately $104,799.91. This trade represents a 21.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 8,425 shares of company stock worth $89,994. Corporate insiders own 12.60% of the company's stock.

Keros Therapeutics Stock Performance

Shares of KROS opened at $10.07 on Monday. The business's 50 day moving average is $10.70 and its 200 day moving average is $12.65. Keros Therapeutics, Inc. has a 12-month low of $9.69 and a 12-month high of $22.55. The company has a market capitalization of $199.29 million, a PE ratio of -3.35 and a beta of 0.99.

Keros Therapeutics (NASDAQ:KROS - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.19). The business had revenue of $0.37 million during the quarter, compared to the consensus estimate of $1.93 million. Keros Therapeutics had a negative return on equity of 17.04% and a negative net margin of 256.60%. Equities research analysts predict that Keros Therapeutics, Inc. will post -5.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KROS shares. Wall Street Zen cut Keros Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 16th. Zacks Research cut Keros Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings downgraded Keros Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Keros Therapeutics has an average rating of "Hold" and an average price target of $20.40.

Keros Therapeutics Company Profile

Keros Therapeutics, Inc NASDAQ: KROS is a clinical-stage biopharmaceutical company dedicated to discovering and developing novel therapies for disorders of erythropoiesis and iron regulation. The company's research centers on modulating the transforming growth factor-beta (TGF-β) superfamily to rebalance hematopoiesis and improve red blood cell production. By targeting key signaling pathways involved in anemia, Keros aims to provide new treatment options for patients with myelodysplastic syndromes, beta-thalassemia and other chronic anemias with significant unmet need.

The company's lead product candidate, KER-050, is an engineered activin receptor ligand trap designed to restore effective erythropoiesis and reduce transfusion dependence in patients with anemia associated with myelodysplastic syndromes and primary myelofibrosis.

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