Kronos Bio (NASDAQ:KRON) PT Lowered to $2.25

Kronos Bio (NASDAQ:KRON - Get Free Report) had its target price dropped by equities researchers at HC Wainwright from $2.50 to $2.25 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's target price would indicate a potential upside of 120.59% from the stock's previous close.

Kronos Bio Stock Down 1.0 %

Shares of KRON traded down $0.01 during midday trading on Friday, reaching $1.02. The company had a trading volume of 299,662 shares, compared to its average volume of 311,332. Kronos Bio has a 1-year low of $0.73 and a 1-year high of $2.29. The stock has a market cap of $61.29 million, a PE ratio of -0.52 and a beta of 1.85. The firm has a 50 day simple moving average of $1.14 and a 200-day simple moving average of $1.12.

Kronos Bio (NASDAQ:KRON - Get Free Report) last issued its earnings results on Thursday, March 21st. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.51) by $0.08. Kronos Bio had a negative return on equity of 58.79% and a negative net margin of 1,791.87%. The business had revenue of $2.29 million during the quarter, compared to the consensus estimate of $1.50 million. As a group, sell-side analysts anticipate that Kronos Bio will post -1.74 earnings per share for the current fiscal year.

Institutional Trading of Kronos Bio

A number of hedge funds and other institutional investors have recently modified their holdings of KRON. Cerity Partners LLC acquired a new stake in shares of Kronos Bio during the 4th quarter worth about $513,000. Acadian Asset Management LLC increased its position in shares of Kronos Bio by 6.4% during the 3rd quarter. Acadian Asset Management LLC now owns 614,945 shares of the company's stock worth $798,000 after purchasing an additional 36,909 shares during the last quarter. Finally, Acuta Capital Partners LLC increased its position in shares of Kronos Bio by 128.2% during the 3rd quarter. Acuta Capital Partners LLC now owns 718,739 shares of the company's stock worth $934,000 after purchasing an additional 403,739 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.