Kronos Bio (NASDAQ:KRON) Cut to “Neutral” at Piper Sandler

Kronos Bio (NASDAQ:KRON) was downgraded by equities research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. They presently have a $1.00 price target on the stock, down from their previous price target of $6.00. Piper Sandler’s target price would suggest a potential upside of 17.65% from the company’s current price.

KRON has been the topic of a number of other reports. TD Cowen lowered Kronos Bio from a “buy” rating to a “hold” rating in a research note on Thursday. HC Wainwright restated a “buy” rating and issued a $2.25 target price on shares of Kronos Bio in a research note on Monday, August 19th.

Kronos Bio Stock Performance

NASDAQ:KRON opened at $0.85 on Thursday. Kronos Bio has a 52-week low of $0.69 and a 52-week high of $1.60. The firm has a market cap of $51.25 million, a price-to-earnings ratio of -0.60 and a beta of 1.86. The business’s fifty day moving average is $0.95 and its 200 day moving average is $1.03.

Hedge Funds Weigh In On Kronos Bio

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Kronos Bio in the 1st quarter worth about $71,000. Forefront Analytics LLC increased its position in shares of Kronos Bio by 75.0% during the 2nd quarter. Forefront Analytics LLC now owns 134,998 shares of the company’s stock valued at $167,000 after purchasing an additional 57,867 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Kronos Bio by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 774,559 shares of the company’s stock valued at $1,005,000 after purchasing an additional 113,618 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Kronos Bio by 14.6% during the 1st quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock valued at $2,533,000 after purchasing an additional 247,918 shares during the last quarter. 64.09% of the stock is currently owned by institutional investors.

About Kronos Bio

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.