Kronos Bio (NASDAQ:KRON) Downgraded to “Hold” Rating by TD Cowen

TD Cowen downgraded shares of Kronos Bio (NASDAQ:KRON) from a buy rating to a hold rating in a research note released on Thursday, Marketbeat Ratings reports.

Several other brokerages have also recently weighed in on KRON. HC Wainwright reaffirmed a “buy” rating and set a $2.25 price target on shares of Kronos Bio in a research note 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 Stock Performance

KRON stock traded down $0.00 during mid-day trading on Thursday, hitting $0.85. 557,645 shares of the company were exchanged, compared to its average volume of 268,176. Kronos Bio has a 1-year low of $0.69 and a 1-year high of $1.60. The firm’s 50 day simple moving average is $0.95 and its 200 day simple moving average is $1.03. The firm has a market cap of $51.10 million, a P/E ratio of -0.60 and a beta of 1.86.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KRON. Vanguard Group Inc. increased its stake in shares of Kronos Bio by 14.6% during the first quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock worth $2,533,000 after purchasing an additional 247,918 shares during the period. Acadian Asset Management LLC boosted its stake in Kronos Bio by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 774,559 shares of the company’s stock valued at $1,005,000 after purchasing an additional 113,618 shares during the period. Virtu Financial LLC bought a new position in Kronos Bio during the 1st quarter worth $71,000. Finally, Forefront Analytics LLC lifted its holdings in shares of Kronos Bio by 75.0% during the second quarter. Forefront Analytics LLC now owns 134,998 shares of the company’s stock worth $167,000 after buying an additional 57,867 shares in the last quarter. 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.