Kronos Bio (NASDAQ:KRON) Rating Increased to Hold at Wall Street Zen

Kronos Bio (NASDAQ:KRON) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a report released on Saturday.

Kronos Bio Stock Up 1.5%

Shares of KRON opened at $0.88 on Friday. The business’s 50 day moving average price is $0.79 and its 200-day moving average price is $0.89. Kronos Bio has a 52 week low of $0.65 and a 52 week high of $1.60. The stock has a market cap of $53.72 million, a P/E ratio of -0.82 and a beta of 1.63.

Kronos Bio (NASDAQ:KRON) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.13). Kronos Bio had a negative return on equity of 64.22% and a negative net margin of 701.53%. The company had revenue of $2.27 million during the quarter, compared to the consensus estimate of $1.00 million. On average, equities analysts anticipate that Kronos Bio will post -1.36 EPS for the current year.

Hedge Funds Weigh In On Kronos Bio

Hedge funds have recently added to or reduced their stakes in the company. Velan Capital Investment Management LP purchased a new position in Kronos Bio in the 4th quarter worth approximately $33,000. GTS Securities LLC purchased a new position in Kronos Bio in the 4th quarter worth approximately $48,000. Squarepoint Ops LLC purchased a new position in Kronos Bio in the 4th quarter worth approximately $93,000. Deuterium Capital Management LLC purchased a new stake in Kronos Bio during the 1st quarter valued at $121,000. Finally, Kennedy Capital Management LLC raised its stake in Kronos Bio by 8.7% during the 4th quarter. Kennedy Capital Management LLC now owns 149,251 shares of the company’s stock valued at $142,000 after buying an additional 12,007 shares during the last quarter. 64.09% of the stock is currently owned by hedge funds and other institutional investors.

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.