Bank of New York Mellon Corp Takes $1.11 Million Position in Keros Therapeutics, Inc. $KROS

Key Points

• Bank of New York Mellon acquired 103,339 shares of Keros Therapeutics worth approximately $1.11 million, while institutional investors collectively own 71.56% of the company.
• Keros reported a quarterly loss of $1.45 per share, worse than the $1.34 consensus estimate. Shares opened at $11.17, near the lower end of their 12-month range of $9.69 to $22.55.
• The company authorized a $5 million share-repurchase program, covering up to 2.3% of outstanding shares. Analysts maintain a consensus “Hold” rating with an average price target of $20.50, despite mixed individual recommendations.

Bank of New York Mellon Corp bought a new position in shares of Keros Therapeutics, Inc. (NASDAQ:KROS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 103,339 shares of the company's stock, valued at approximately $1,106,000. Bank of New York Mellon Corp owned approximately 0.52% of Keros Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Keros Therapeutics by 8.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,451 shares of the company's stock worth $166,000 after buying an additional 988 shares during the period. UBS Group AG boosted its position in Keros Therapeutics by 1.1% in the 3rd quarter. UBS Group AG now owns 103,864 shares of the company's stock valued at $1,643,000 after buying an additional 1,091 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Keros Therapeutics by 254.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,624 shares of the company's stock valued at $33,000 after buying an additional 1,166 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Keros Therapeutics by 149.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,153 shares of the company's stock valued at $42,000 after acquiring an additional 1,888 shares in the last quarter. Finally, Creative Planning grew its stake in shares of Keros Therapeutics by 9.7% during the third quarter. Creative Planning now owns 26,573 shares of the company's stock valued at $420,000 after acquiring an additional 2,347 shares in the last quarter. 71.56% of the stock is currently owned by hedge funds and other institutional investors.

Keros Therapeutics Trading Down 1.2%

Shares of NASDAQ KROS opened at $11.17 on Friday. The company has a market capitalization of $221.50 million, a price-to-earnings ratio of -3.02 and a beta of 1.01. Keros Therapeutics, Inc. has a twelve month low of $9.69 and a twelve month high of $22.55. The business has a 50 day simple moving average of $10.83 and a 200-day simple moving average of $11.22.

Keros Therapeutics (NASDAQ:KROS - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported ($1.45) EPS for the quarter, missing analysts' consensus estimates of ($1.34) by ($0.11). Keros Therapeutics had a negative return on equity of 21.40% and a negative net margin of 256.60%. As a group, equities analysts predict that Keros Therapeutics, Inc. will post -5.27 earnings per share for the current year.

Keros Therapeutics announced that its board has authorized a stock repurchase program on Wednesday, September 9th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, insider Lorena Raquel Lerner sold 3,568 shares of Keros Therapeutics stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $10.29, for a total value of $36,714.72. Following the completion of the transaction, the insider directly owned 27,559 shares of the company's stock, valued at approximately $283,582.11. The trade was a 11.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 5,343 shares of company stock valued at $54,985. Company insiders own 12.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $20.00 price target on shares of Keros Therapeutics in a research note on Tuesday, August 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Keros Therapeutics in a report on Wednesday, August 12th. Wells Fargo & Company cut their target price on Keros Therapeutics from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 4th. Leerink Partners cut their target price on Keros Therapeutics from $30.00 to $23.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 4th. Finally, Zacks Research upgraded Keros Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Keros Therapeutics has an average rating of "Hold" and an average target price of $20.50.

Keros Therapeutics 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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