Kronos Bio, Inc. (NASDAQ:KRON) Sees Significant Drop in Short Interest

Kronos Bio, Inc. (NASDAQ:KRON) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 748,000 shares, a drop of 13.4% from the February 28th total of 863,500 shares. Based on an average daily volume of 231,500 shares, the days-to-cover ratio is presently 3.2 days. Approximately 1.9% of the company’s shares are short sold.

Kronos Bio Stock Down 4.8 %

Kronos Bio stock opened at $0.80 on Friday. The company has a 50 day moving average of $0.95 and a 200-day moving average of $0.95. Kronos Bio has a twelve month low of $0.69 and a twelve month high of $1.60. The stock has a market capitalization of $48.78 million, a PE ratio of -0.56 and a beta of 1.79.

Kronos Bio (NASDAQ:KRON) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.13). The business had revenue of $2.27 million for the quarter, compared to analyst estimates of $1.00 million. Kronos Bio had a negative return on equity of 64.55% and a negative net margin of 867.66%. Equities analysts anticipate that Kronos Bio will post -1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Kronos Bio

A number of institutional investors have recently modified their holdings of KRON. Peapod Lane Capital LLC acquired a new stake in Kronos Bio during the 4th quarter worth approximately $534,000. Deltec Asset Management LLC bought a new stake in shares of Kronos Bio during the fourth quarter valued at approximately $190,000. Squarepoint Ops LLC acquired a new position in shares of Kronos Bio during the fourth quarter valued at about $93,000. GTS Securities LLC bought a new position in shares of Kronos Bio in the fourth quarter valued at approximately $48,000. Finally, Velan Capital Investment Management LP bought a new stake in shares of Kronos Bio in the 4th quarter worth $33,000. Institutional investors and hedge funds own 64.09% of the company’s stock.

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.