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

Kronos Bio, Inc. (NASDAQ:KRON) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 611,600 shares, a decrease of 18.2% from the March 15th total of 748,000 shares. Based on an average daily volume of 188,000 shares, the short-interest ratio is presently 3.3 days. Currently, 1.6% of the shares of the company are sold short.

Kronos Bio Price Performance

Shares of NASDAQ KRON traded up $0.02 during trading on Monday, reaching $0.91. 113,331 shares of the stock traded hands, compared to its average volume of 265,738. The stock has a market capitalization of $55.18 million, a P/E ratio of -0.63 and a beta of 1.78. Kronos Bio has a 52-week low of $0.69 and a 52-week high of $1.60. The company has a 50-day moving average of $0.90 and a 200-day moving average of $0.94.

Kronos Bio (NASDAQ:KRON) last issued its 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 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%. Analysts expect that Kronos Bio will post -1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kronos Bio

A number of large investors have recently made changes to their positions in the stock. Peapod Lane Capital LLC purchased a new position in Kronos Bio during the 4th quarter valued at about $534,000. Gilead Sciences Inc. purchased a new position in Kronos Bio in the fourth quarter worth $179,000. Deltec Asset Management LLC purchased a new stake in Kronos Bio in the fourth quarter worth approximately $190,000. Kennedy Capital Management LLC raised its stake in shares of Kronos Bio by 8.7% during the fourth quarter. Kennedy Capital Management LLC now owns 149,251 shares of the company’s stock worth $142,000 after acquiring an additional 12,007 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Kronos Bio in the 4th quarter valued at $93,000. 64.09% of the stock is owned by institutional investors.

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.