Kronos Bio (NASDAQ:KRON) Trading Down 8%

Kronos Bio, Inc. (NASDAQ:KRON - Get Free Report)'s share price was down 8% during mid-day trading on Tuesday . The company traded as low as $1.23 and last traded at $1.27. Approximately 271,725 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 256,035 shares. The stock had previously closed at $1.38.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Kronos Bio from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 19th. HC Wainwright dropped their price objective on shares of Kronos Bio from $9.00 to $2.50 and set a "buy" rating on the stock in a research note on Tuesday, December 19th.

Kronos Bio Stock Down 0.8 %

The stock has a market cap of $75.73 million, a price-to-earnings ratio of -0.65 and a beta of 1.82. The firm's 50 day moving average is $1.15 and its two-hundred day moving average is $1.14.

Institutional Trading of Kronos Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Kronos Bio by 1.0% during the first quarter. BlackRock Inc. now owns 3,401,730 shares of the company's stock valued at $24,593,000 after purchasing an additional 32,054 shares during the last quarter. BVF Inc. IL purchased a new stake in shares of Kronos Bio in the 2nd quarter valued at approximately $4,839,000. JPMorgan Chase & Co. lifted its position in shares of Kronos Bio by 6.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,742,201 shares of the company's stock valued at $4,003,000 after acquiring an additional 172,609 shares in the last quarter. State Street Corp lifted its position in shares of Kronos Bio by 30.5% in the 1st quarter. State Street Corp now owns 1,926,399 shares of the company's stock valued at $13,928,000 after acquiring an additional 450,780 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Kronos Bio by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 1,700,677 shares of the company's stock valued at $2,126,000 after acquiring an additional 12,312 shares in the last quarter. 64.09% of the stock is owned by institutional investors and hedge funds.

About Kronos Bio

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.