Kronos Bio (NASDAQ:KRON) Price Target Cut to $7.00

Kronos Bio (NASDAQ:KRONGet Rating) had its price target cut by research analysts at Piper Sandler from $13.00 to $7.00 in a report released on Wednesday, The Fly reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 173.44% from the stock’s previous close.

Separately, Berenberg Bank initiated coverage on Kronos Bio in a research report on Wednesday, September 14th. They issued a “buy” rating and a $12.00 target price for the company.

Kronos Bio Price Performance

Shares of NASDAQ KRON opened at $2.56 on Wednesday. Kronos Bio has a 1-year low of $2.28 and a 1-year high of $17.49. The business has a 50-day moving average of $3.42 and a 200-day moving average of $3.97. The company has a market capitalization of $145.33 million, a price-to-earnings ratio of -0.87 and a beta of 1.29.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KRON. JPMorgan Chase & Co. lifted its stake in shares of Kronos Bio by 77.9% in the first quarter. JPMorgan Chase & Co. now owns 2,565,047 shares of the company’s stock worth $18,546,000 after acquiring an additional 1,123,528 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Kronos Bio by 320.9% in the second quarter. Renaissance Technologies LLC now owns 802,900 shares of the company’s stock worth $2,923,000 after acquiring an additional 612,145 shares in the last quarter. State Street Corp lifted its stake in shares of Kronos Bio by 30.5% in the first quarter. State Street Corp now owns 1,926,399 shares of the company’s stock worth $13,928,000 after acquiring an additional 450,780 shares in the last quarter. Privium Fund Management UK Ltd acquired a new position in shares of Kronos Bio in the second quarter worth about $1,566,000. Finally, Federated Hermes Inc. acquired a new position in shares of Kronos Bio in the second quarter worth about $1,039,000. Institutional investors and hedge funds own 62.62% of the company’s stock.

Kronos Bio Company Profile

(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.

Recommended Stories

The Fly logo

Receive News & Ratings for Kronos Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kronos Bio and related companies with MarketBeat.com's FREE daily email newsletter.