Kronos Bio (NASDAQ:KRON) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Kronos Bio (NASDAQ:KRON) in a report released on Monday morning, Benzinga reports. They currently have a $2.25 target price on the stock.

Kronos Bio Stock Performance

Shares of KRON stock opened at $1.00 on Monday. Kronos Bio has a 52 week low of $0.69 and a 52 week high of $1.60. The company has a market capitalization of $60.09 million, a price-to-earnings ratio of -0.50 and a beta of 1.89. The company has a 50-day simple moving average of $1.17 and a 200 day simple moving average of $1.10.

Kronos Bio (NASDAQ:KRON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. The company had revenue of $2.69 million during the quarter, compared to analysts’ expectations of $1.75 million. Kronos Bio had a negative return on equity of 68.67% and a negative net margin of 1,534.11%. Sell-side analysts forecast that Kronos Bio will post -1.62 EPS for the current year.

Insider Activity

In other Kronos Bio news, CEO Norbert W. Bischofberger acquired 1,378,901 shares of the business’s stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $0.88 per share, with a total value of $1,213,432.88. Following the acquisition, the chief executive officer now directly owns 5,749,395 shares of the company’s stock, valued at approximately $5,059,467.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Norbert W. Bischofberger bought 1,378,901 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $0.88 per share, for a total transaction of $1,213,432.88. Following the transaction, the chief executive officer now owns 5,749,395 shares in the company, valued at approximately $5,059,467.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Norbert W. Bischofberger bought 410,848 shares of Kronos Bio stock in a transaction dated Thursday, June 27th. The shares were bought at an average cost of $1.17 per share, for a total transaction of $480,692.16. Following the completion of the acquisition, the chief executive officer now owns 10,597,468 shares in the company, valued at approximately $12,399,037.56. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 2,671,662 shares of company stock valued at $2,787,697. 23.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kronos Bio

Several hedge funds and other institutional investors have recently made changes to their positions in KRON. Vanguard Group Inc. boosted 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 worth $2,533,000 after acquiring an additional 247,918 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Kronos Bio by 17.2% in 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 in the last quarter. Virtu Financial LLC bought a new position in shares of Kronos Bio in the 1st quarter valued at $71,000. Cerity Partners LLC acquired a new position in shares of Kronos Bio during the 4th quarter worth $513,000. Finally, Forefront Analytics LLC lifted 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 worth $167,000 after buying an additional 57,867 shares during the last quarter. 64.09% of the stock is currently owned by institutional investors and hedge funds.

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.