Kronos Bio, Inc. (NASDAQ:KRON) Sees Large Decline in Short Interest

Kronos Bio, Inc. (NASDAQ:KRON) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 748,000 shares, a decrease of 13.4% from the February 28th total of 863,500 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average trading volume of 231,500 shares, the short-interest ratio is presently 3.2 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KRON. Velan Capital Investment Management LP acquired a new position in Kronos Bio in the fourth quarter valued at approximately $33,000. GTS Securities LLC bought a new position in Kronos Bio during the fourth quarter worth about $48,000. Squarepoint Ops LLC acquired a new position in shares of Kronos Bio during the 4th quarter worth about $93,000. Kennedy Capital Management LLC increased its stake in shares of Kronos Bio by 8.7% in the 4th quarter. Kennedy Capital Management LLC now owns 149,251 shares of the company’s stock valued at $142,000 after acquiring an additional 12,007 shares during the last quarter. Finally, Gilead Sciences Inc. acquired a new stake in shares of Kronos Bio in the 4th quarter valued at approximately $179,000. 64.09% of the stock is currently owned by institutional investors and hedge funds.

Kronos Bio Price Performance

Shares of NASDAQ:KRON remained flat at $0.84 on Thursday. 7,815 shares of the stock traded hands, compared to its average volume of 268,543. The company has a market cap of $50.97 million, a P/E ratio of -0.58 and a beta of 1.79. The company has a fifty day moving average of $0.95 and a 200 day moving average of $0.95. Kronos Bio has a 52 week low of $0.69 and a 52 week high of $1.60.

Kronos Bio (NASDAQ:KRON) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.13). The company had revenue of $2.27 million for the quarter, compared to the consensus estimate of $1.00 million. Kronos Bio had a negative return on equity of 64.55% and a negative net margin of 867.66%. On average, sell-side analysts forecast that Kronos Bio will post -1.36 EPS for the current fiscal year.

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.