Zacks Investment Research Downgrades Kiromic BioPharma (NASDAQ:KRBP) to Sell

Kiromic BioPharma (NASDAQ:KRBPGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Kiromic BioPharma Inc. is a discovery and gene-editing company utilizing artificial intelligence and a proprietary neural network platform with a therapeutic focus on immuno-oncology. Kiromic BioPharma Inc. is based in HOUSTON. “

Shares of Kiromic BioPharma stock opened at $0.27 on Wednesday. Kiromic BioPharma has a 52 week low of $0.23 and a 52 week high of $11.00. The business’s fifty day simple moving average is $0.67 and its 200-day simple moving average is $1.24. The firm has a market cap of $4.13 million, a PE ratio of -0.33 and a beta of 0.61.

Kiromic BioPharma (NASDAQ:KRBPGet Rating) last announced its quarterly earnings results on Friday, March 11th. The company reported ($0.40) EPS for the quarter. On average, research analysts expect that Kiromic BioPharma will post -1.45 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in shares of Kiromic BioPharma in the 1st quarter valued at $48,000. Warberg Asset Management LLC raised its holdings in shares of Kiromic BioPharma by 118.4% in the 1st quarter. Warberg Asset Management LLC now owns 73,847 shares of the company’s stock valued at $63,000 after buying an additional 40,032 shares during the period. K.J. Harrison & Partners Inc raised its holdings in shares of Kiromic BioPharma by 83.9% in the 1st quarter. K.J. Harrison & Partners Inc now owns 48,233 shares of the company’s stock valued at $41,000 after buying an additional 22,000 shares during the period. LPL Financial LLC raised its holdings in shares of Kiromic BioPharma by 59.8% in the 4th quarter. LPL Financial LLC now owns 84,400 shares of the company’s stock valued at $129,000 after buying an additional 31,600 shares during the period. Finally, Zeke Capital Advisors LLC raised its holdings in shares of Kiromic BioPharma by 236.7% in the 3rd quarter. Zeke Capital Advisors LLC now owns 56,899 shares of the company’s stock valued at $175,000 after buying an additional 40,000 shares during the period. Hedge funds and other institutional investors own 16.03% of the company’s stock.

About Kiromic BioPharma (Get Rating)

Kiromic BioPharma, Inc, a target discovery and gene editing company, focuses on developing immuno-oncology therapeutics for the treatment of blood cancers and solid tumors. The company develops ALEXIS-ISO-1, an allogenic gamma delta CAR-T cell therapy product candidate targeting Isomesothelin; ALEXIS-PRO-1, an allogeneic gamma delta chimeric T cell therapy product candidate targeting PD-L1; and chimeric gamma delta PD1 T cell switch receptor therapy.

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