Kronos Bio, Inc. (NASDAQ:KRON) Sees Large Increase in Short Interest

Kronos Bio, Inc. (NASDAQ:KRON - Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 754,300 shares, a growth of 37.7% from the May 15th total of 547,900 shares. Based on an average daily volume of 745,300 shares, the short-interest ratio is currently 1.0 days. Currently, 1.9% of the shares of the stock are sold short.

Kronos Bio Trading Up 1.5%

Shares of KRON traded up $0.01 during mid-day trading on Friday, hitting $0.88. 54,089 shares of the company traded hands, compared to its average volume of 361,437. The business has a 50-day moving average of $0.79 and a 200 day moving average of $0.89. The stock has a market capitalization of $53.72 million, a price-to-earnings ratio of -0.82 and a beta of 1.63. Kronos Bio has a one year low of $0.65 and a one year high of $1.60.

Kronos Bio (NASDAQ:KRON - Get Free Report) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.13). Kronos Bio had a negative net margin of 701.53% and a negative return on equity of 64.22%. The firm had revenue of $2.27 million during the quarter, compared to the consensus estimate of $1.00 million. As a group, analysts anticipate that Kronos Bio will post -1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Velan Capital Investment Management LP bought a new stake in shares of Kronos Bio during the 4th quarter worth approximately $33,000. GTS Securities LLC acquired a new stake in Kronos Bio in the fourth quarter worth $48,000. Squarepoint Ops LLC acquired a new stake in Kronos Bio in the fourth quarter valued at approximately $93,000. Deuterium Capital Management LLC bought a new position in shares of Kronos Bio in the first quarter valued at $121,000. Finally, Kennedy Capital Management LLC raised its stake in shares of Kronos Bio by 8.7% in the fourth quarter. Kennedy Capital Management LLC now owns 149,251 shares of the company's stock worth $142,000 after purchasing an additional 12,007 shares during the last quarter. 64.09% of the stock is owned by institutional investors and hedge funds.

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.