Kronos Bio (NASDAQ:KRON) Stock Price Down 22.1%

Kronos Bio, Inc. (NASDAQ:KRON)’s share price dropped 22.1% during mid-day trading on Friday . The company traded as low as $0.69 and last traded at $0.76. Approximately 1,930,980 shares changed hands during trading, an increase of 484% from the average daily volume of 330,794 shares. The stock had previously closed at $0.97.

Analyst Ratings Changes

Separately, HC Wainwright dropped their price target on shares of Kronos Bio from $2.50 to $2.25 and set a “buy” rating on the stock in a research note on Friday, May 3rd.

Kronos Bio Stock Down 22.1 %

The stock has a market cap of $45.41 million, a PE ratio of -0.38 and a beta of 1.85. The business’s fifty day moving average is $1.09 and its 200 day moving average is $1.13.

Kronos Bio (NASDAQ:KRON) last announced its quarterly earnings data 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. The business had revenue of $2.29 million for the quarter, compared to the consensus estimate of $1.50 million. Kronos Bio had a negative net margin of 1,534.11% and a negative return on equity of 68.67%. As a group, analysts predict that Kronos Bio, Inc. will post -1.62 EPS for the current year.

Hedge Funds Weigh In On Kronos Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Kronos Bio during the first quarter worth approximately $71,000. Marquette Asset Management LLC grew its holdings in Kronos Bio by 19.8% during the 1st quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock valued at $104,000 after purchasing an additional 13,269 shares in the last quarter. Cerity Partners LLC acquired a new stake in Kronos Bio during the 4th quarter valued at $513,000. Acadian Asset Management LLC boosted its stake in 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. Finally, Acuta Capital Partners LLC boosted its stake in Kronos Bio by 128.2% during 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 during the last quarter. Hedge funds and other institutional investors 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. 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.