Kronos Bio (NASDAQ:KRON) Stock Rating Lowered by Zacks Investment Research

Kronos Bio (NASDAQ:KRONGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Kronos Bio Inc. is a clinical-stage biopharmaceutical company. It engages in discovery and development of novel cancer therapeutics designed to transform patient outcomes by targeting dysregulated transcription. Kronos Bio Inc. is headquartered in San Mateo, Calif. “

A number of other analysts also recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of Kronos Bio in a report on Tuesday, March 8th. Piper Sandler decreased their price objective on shares of Kronos Bio from $50.00 to $30.00 and set an “overweight” rating on the stock in a report on Sunday, February 27th.

Shares of Kronos Bio stock opened at $4.30 on Tuesday. Kronos Bio has a 52-week low of $4.18 and a 52-week high of $28.42. The business’s 50-day moving average price is $6.55. The firm has a market capitalization of $243.95 million, a price-to-earnings ratio of -1.47 and a beta of 1.94.

Kronos Bio (NASDAQ:KRONGet Rating) last released its quarterly earnings data on Thursday, February 24th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.06). As a group, analysts expect that Kronos Bio will post -2.85 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in KRON. Royal Bank of Canada lifted its holdings in shares of Kronos Bio by 60.2% in the second quarter. Royal Bank of Canada now owns 3,658 shares of the company’s stock valued at $88,000 after purchasing an additional 1,375 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Kronos Bio by 134.0% in the third quarter. Citigroup Inc. now owns 5,046 shares of the company’s stock valued at $106,000 after purchasing an additional 2,890 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings in shares of Kronos Bio by 54.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 12,548 shares of the company’s stock valued at $171,000 after purchasing an additional 4,422 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Kronos Bio in the third quarter valued at about $208,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Kronos Bio in the fourth quarter valued at about $211,000. 86.97% of the stock is currently owned by institutional investors.

About Kronos Bio (Get Rating)

Kronos Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of novel cancer therapeutics. The company's product engine focuses on dysregulated transcription factors and the transcriptional regulatory networks that drive oncogenic activity. Its lead product candidate is entospletinib (ENTO), is an orally administered, selective spleen tyrosine kinase inhibitor for acute myeloid leukemia patients.

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