BlackRock Inc. Buys Shares of 2,794,217 Keros Therapeutics, Inc. $KROS

Key Points

• BlackRock acquired 2.79 million Keros Therapeutics shares worth approximately $29.9 million, giving it a 14.09% stake. Institutional investors collectively own 71.56% of KROS.
• Analyst sentiment is mixed: the consensus rating is “Hold” with a $20.50 price target, while recent targets range from $18 to $23. KROS recently traded near $11.07.
• Keros reported a quarterly loss of $1.45 per share, missing expectations of $1.34, and analysts forecast a full-year loss of $5.27 per share. Insiders sold 13,768 shares worth about $145,000 over the past three months.

BlackRock Inc. purchased a new position in shares of Keros Therapeutics, Inc. (NASDAQ:KROS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,794,217 shares of the company's stock, valued at approximately $29,898,000. BlackRock Inc. owned 14.09% of Keros Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Keros Therapeutics by 254.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,624 shares of the company's stock worth $33,000 after buying an additional 1,166 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Keros Therapeutics by 149.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,153 shares of the company's stock worth $42,000 after acquiring an additional 1,888 shares during the period. Lazard Asset Management LLC purchased a new position in Keros Therapeutics during the first quarter valued at approximately $129,000. New York State Common Retirement Fund raised its position in Keros Therapeutics by 264.1% during the second quarter. New York State Common Retirement Fund now owns 10,616 shares of the company's stock valued at $142,000 after acquiring an additional 7,700 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Keros Therapeutics by 8.6% in the second quarter. The Manufacturers Life Insurance Company now owns 12,451 shares of the company's stock valued at $166,000 after acquiring an additional 988 shares during the period. Hedge funds and other institutional investors own 71.56% of the company's stock.

Insider Transactions at Keros Therapeutics

In related news, insider Lorena Raquel Lerner sold 3,568 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $10.29, for a total transaction of $36,714.72. Following the completion of the sale, the insider directly owned 27,559 shares in the company, valued at approximately $283,582.11. The trade was a 11.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Nima Farzan sold 2,625 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $10.73, for a total value 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 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. Insiders sold 13,768 shares of company stock worth $144,979 over the last three months. 12.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Keros Therapeutics Price Performance

Shares of NASDAQ:KROS opened at $11.07 on Wednesday. The business's 50 day moving average price is $10.78 and its 200-day moving average price is $11.48. Keros Therapeutics, Inc. has a 1 year low of $9.69 and a 1 year high of $22.55. The firm has a market capitalization of $219.52 million, a price-to-earnings ratio of -2.99 and a beta of 1.01.

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

About Keros Therapeutics

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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