Kronos Bio (NASDAQ:KRON) Price Target Lowered to $2.25 at HC Wainwright

Kronos Bio (NASDAQ:KRON) had its target price cut by HC Wainwright from $2.50 to $2.25 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Kronos Bio Stock Performance

Shares of Kronos Bio stock opened at $1.03 on Friday. Kronos Bio has a 1-year low of $0.73 and a 1-year high of $2.29. The business has a 50-day moving average of $1.14 and a 200-day moving average of $1.12.

Kronos Bio (NASDAQ:KRON) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.43) earnings per share for the quarter, beating 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 firm had revenue of $2.29 million during the quarter, compared to analyst estimates of $1.50 million. As a group, analysts predict that Kronos Bio will post -1.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC bought a new stake in shares of Kronos Bio in the 4th quarter worth about $513,000. Acuta Capital Partners LLC raised its stake in Kronos Bio by 128.2% during the third quarter. Acuta Capital Partners LLC now owns 718,739 shares of the company’s stock valued at $934,000 after buying an additional 403,739 shares in the last quarter. Acadian Asset Management LLC raised its stake in Kronos Bio by 6.4% during the third quarter. Acadian Asset Management LLC now owns 614,945 shares of the company’s stock valued at $798,000 after buying an additional 36,909 shares in the last quarter. Finally, Marquette Asset Management LLC lifted its holdings in Kronos Bio by 19.8% during the 1st quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock worth $104,000 after buying an additional 13,269 shares during the last quarter. 64.09% of the stock is currently owned by institutional investors.

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.