Short Interest in Kronos Bio, Inc. (NASDAQ:KRON) Decreases By 5.6%

Kronos Bio, Inc. (NASDAQ:KRON) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 674,500 shares, a drop of 5.6% from the September 30th total of 714,200 shares. Based on an average daily volume of 87,800 shares, the short-interest ratio is currently 7.7 days. Currently, 1.7% of the shares of the company are sold short.

Kronos Bio Stock Up 3.2 %

Shares of Kronos Bio stock traded up $0.03 during trading on Thursday, reaching $0.97. The company’s stock had a trading volume of 25,438 shares, compared to its average volume of 273,652. The business’s 50-day moving average price is $0.97 and its 200-day moving average price is $1.03. 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 $58.49 million, a PE ratio of -0.55 and a beta of 1.87.

Kronos Bio (NASDAQ:KRON) last announced its earnings results 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 firm had revenue of $2.69 million for the quarter, compared to analyst estimates of $1.75 million. Kronos Bio had a negative net margin of 1,222.83% and a negative return on equity of 68.82%. Equities analysts predict that Kronos Bio will post -1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $2.25 price objective on shares of Kronos Bio in a research note on Monday, August 19th. Piper Sandler reaffirmed an “overweight” rating and set a $6.00 price objective on shares of Kronos Bio in a research report on Tuesday, October 8th.

Institutional Trading of Kronos Bio

Several large investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in Kronos Bio in the first quarter valued at approximately $71,000. Marquette Asset Management LLC boosted its holdings in shares of Kronos Bio by 19.8% in 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. Forefront Analytics LLC increased its stake in shares of Kronos Bio by 75.0% in 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 raised its holdings 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 worth $1,005,000 after buying an additional 113,618 shares in the last quarter. Finally, Vanguard Group Inc. lifted 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 buying an additional 247,918 shares during the last quarter. 64.09% of the stock is owned by institutional investors and hedge funds.

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.