HC Wainwright Trims Kronos Bio (NASDAQ:KRON) Target Price to $2.25

Kronos Bio (NASDAQ:KRON) had its price objective cut by HC Wainwright from $2.50 to $2.25 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

Kronos Bio Trading Up 1.0 %

Shares of NASDAQ:KRON opened at $1.03 on Friday. The business has a fifty day simple moving average of $1.14 and a 200 day simple moving average of $1.12. Kronos Bio has a 1 year low of $0.73 and a 1 year high of $2.29.

Kronos Bio (NASDAQ:KRON) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.08. Kronos Bio had a negative return on equity of 58.79% and a negative net margin of 1,791.87%. The business had revenue of $2.29 million during the quarter, compared to analyst estimates of $1.50 million. Analysts expect that Kronos Bio will post -1.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Marquette Asset Management LLC raised its holdings in Kronos Bio by 19.8% during the first quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock valued at $104,000 after buying an additional 13,269 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Kronos Bio by 6.4% during the 3rd quarter. Acadian Asset Management LLC now owns 614,945 shares of the company’s stock valued at $798,000 after acquiring an additional 36,909 shares during the last quarter. Acuta Capital Partners LLC raised its stake in shares of Kronos Bio by 128.2% in the 3rd quarter. Acuta Capital Partners LLC now owns 718,739 shares of the company’s stock valued at $934,000 after acquiring an additional 403,739 shares in the last quarter. Finally, Cerity Partners LLC acquired a new stake in Kronos Bio in the 4th quarter worth approximately $513,000. Institutional investors and hedge funds own 64.09% of the company’s stock.

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. The company's 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.