Kronos Bio, Inc. (NASDAQ:KRON) Short Interest Update

Kronos Bio, Inc. (NASDAQ:KRON) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 674,500 shares, a decline of 5.6% from the September 30th total of 714,200 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 87,800 shares, the days-to-cover ratio is presently 7.7 days.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KRON shares. HC Wainwright reiterated a “buy” rating and issued a $2.25 price target on shares of Kronos Bio in a research report on Monday, August 19th. Piper Sandler reissued an “overweight” rating and set a $6.00 price target on shares of Kronos Bio in a research report on Tuesday, October 8th.

Kronos Bio Trading Up 3.2 %

Shares of NASDAQ:KRON traded up $0.03 during trading on Thursday, hitting $0.97. 25,438 shares of the company’s stock traded hands, compared to its average volume of 273,652. The company has a 50-day moving average price of $0.97 and a 200-day moving average price of $1.03. Kronos Bio has a 52 week low of $0.69 and a 52 week high of $1.60. The company has a market cap of $58.49 million, a price-to-earnings ratio of -0.55 and a beta of 1.87.

Kronos Bio (NASDAQ:KRON) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.05. Kronos Bio had a negative net margin of 1,222.83% and a negative return on equity of 68.82%. The company had revenue of $2.69 million during the quarter, compared to analysts’ expectations of $1.75 million. On average, analysts predict that Kronos Bio will post -1.33 earnings per share for the current fiscal year.

Institutional Trading of Kronos Bio

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Kronos Bio by 14.6% in the 1st quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock valued at $2,533,000 after acquiring an additional 247,918 shares in 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 worth $1,005,000 after purchasing an additional 113,618 shares during the last quarter. Forefront Analytics LLC raised its stake 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 purchasing an additional 57,867 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Kronos Bio during the 1st quarter worth approximately $71,000. Finally, 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 buying an additional 13,269 shares during the last quarter. Institutional investors and hedge funds 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.