Short Interest in Kronos Bio, Inc. (NASDAQ:KRON) Declines By 5.6%

Kronos Bio, Inc. (NASDAQ:KRON) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 674,500 shares, a drop of 5.6% from the September 30th total of 714,200 shares. Based on an average daily volume of 87,800 shares, the days-to-cover ratio is currently 7.7 days. Approximately 1.7% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

KRON has been the subject of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $2.25 price objective on shares of Kronos Bio in a research report on Monday, August 19th. Piper Sandler restated an “overweight” rating and issued a $6.00 target price on shares of Kronos Bio in a research note on Tuesday, October 8th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. 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 valued at $104,000 after purchasing an additional 13,269 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kronos Bio by 14.6% during the 1st quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock worth $2,533,000 after buying an additional 247,918 shares during the period. Acadian Asset Management LLC grew its stake in Kronos Bio by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 774,559 shares of the company’s stock valued at $1,005,000 after buying an additional 113,618 shares during the last quarter. Virtu Financial LLC bought a new position in Kronos Bio in the 1st quarter valued at about $71,000. Finally, Forefront Analytics LLC lifted its position in Kronos Bio by 75.0% during the second quarter. Forefront Analytics LLC now owns 134,998 shares of the company’s stock worth $167,000 after acquiring an additional 57,867 shares during the last quarter. 64.09% of the stock is currently owned by institutional investors.

Kronos Bio Trading Up 3.2 %

Shares of KRON stock opened at $0.97 on Friday. The firm’s fifty day moving average price is $0.97 and its two-hundred day moving average price is $1.03. Kronos Bio has a 1 year low of $0.69 and a 1 year high of $1.60. The firm has a market capitalization of $58.49 million, a P/E ratio of -0.56 and a beta of 1.87.

Kronos Bio (NASDAQ:KRON) last released its earnings results on Thursday, August 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.05. The business had revenue of $2.69 million for the quarter, compared to analyst estimates of $1.75 million. Kronos Bio had a negative return on equity of 68.82% and a negative net margin of 1,222.83%. As a group, equities research analysts forecast that Kronos Bio will post -1.33 EPS for the current fiscal year.

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.