Kronos Bio, Inc. (NASDAQ:KRON) Short Interest Down 7.8% in July

Kronos Bio, Inc. (NASDAQ:KRON) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 718,500 shares, a decrease of 7.8% from the July 15th total of 779,500 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average trading volume of 381,300 shares, the short-interest ratio is currently 1.9 days.

Kronos Bio Stock Performance

NASDAQ:KRON opened at $1.00 on Monday. The company has a market capitalization of $60.06 million, a P/E ratio of -0.50 and a beta of 1.89. The stock’s 50 day moving average price is $1.17 and its 200 day moving average price is $1.10. Kronos Bio has a 52 week low of $0.69 and a 52 week high of $1.62.

Kronos Bio (NASDAQ:KRON) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.05. Kronos Bio had a negative net margin of 1,534.11% and a negative return on equity of 68.67%. The company had revenue of $2.69 million for the quarter, compared to analyst estimates of $1.75 million. As a group, sell-side analysts forecast that Kronos Bio will post -1.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Kronos Bio news, CEO Norbert W. Bischofberger bought 410,848 shares of the stock in a transaction on Thursday, June 27th. The shares were bought at an average price of $1.17 per share, with a total value of $480,692.16. Following the purchase, the chief executive officer now directly owns 10,597,468 shares in the company, valued at approximately $12,399,037.56. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Norbert W. Bischofberger bought 1,378,901 shares of the business’s stock in a transaction on Monday, June 10th. The stock was bought at an average price of $0.88 per share, for a total transaction of $1,213,432.88. Following the transaction, the chief executive officer now directly owns 5,749,395 shares in the company, valued at $5,059,467.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Norbert W. Bischofberger purchased 410,848 shares of the stock in a transaction dated Thursday, June 27th. The shares were bought at an average price of $1.17 per share, for a total transaction of $480,692.16. Following the completion of the acquisition, the chief executive officer now owns 10,597,468 shares in the company, valued at $12,399,037.56. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 2,671,662 shares of company stock valued at $2,787,697. Corporate insiders own 23.40% of the company’s stock.

Hedge Funds Weigh In On Kronos Bio

Several institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Kronos Bio during the 1st quarter worth about $71,000. Marquette Asset Management LLC boosted its position in Kronos Bio by 19.8% during the first quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock worth $104,000 after purchasing an additional 13,269 shares during the period. Forefront Analytics LLC grew its holdings in Kronos Bio by 75.0% during the second quarter. Forefront Analytics LLC now owns 134,998 shares of the company’s stock valued at $167,000 after purchasing an additional 57,867 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Kronos Bio in the fourth quarter valued at approximately $513,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Kronos Bio by 17.2% in the first quarter. Acadian Asset Management LLC now owns 774,559 shares of the company’s stock worth $1,005,000 after buying an additional 113,618 shares during the last quarter. 64.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $2.25 price objective on shares of Kronos Bio in a research report on Thursday, August 1st.

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. 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.