Kronos Bio’s (KRON) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Kronos Bio (NASDAQ:KRON) in a research note released on Tuesday morning, Benzinga reports. Piper Sandler currently has a $6.00 price target on the stock.

Separately, HC Wainwright restated a buy rating and set a $2.25 price objective on shares of Kronos Bio in a research report on Monday, August 19th.

Kronos Bio Stock Performance

Shares of KRON opened at $0.92 on Tuesday. Kronos Bio has a 52-week low of $0.69 and a 52-week high of $1.60. The business’s fifty day moving average is $1.00 and its 200-day moving average is $1.06. The firm has a market cap of $55.53 million, a price-to-earnings ratio of -0.53 and a beta of 1.87.

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

Institutional Investors Weigh In On Kronos Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of KRON. Marquette Asset Management LLC grew its position in Kronos Bio by 19.8% during the 1st quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock worth $104,000 after acquiring an additional 13,269 shares during the last quarter. Vanguard Group Inc. lifted its holdings in 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 period. Acadian Asset Management LLC lifted its holdings in 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 during the period. Virtu Financial LLC acquired a new position in Kronos Bio during the 1st quarter worth about $71,000. Finally, Forefront Analytics LLC lifted its holdings in 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 buying an additional 57,867 shares during the period. Institutional investors 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.