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

Kronos Bio, Inc. (NASDAQ:KRON) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 577,700 shares, an increase of 16.5% from the December 15th total of 496,000 shares. Based on an average daily volume of 255,900 shares, the short-interest ratio is presently 2.3 days. Currently, 1.5% of the company’s shares are short sold.

Wall Street Analyst Weigh In

KRON has been the topic of several recent research reports. TD Cowen downgraded Kronos Bio from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Piper Sandler lowered Kronos Bio from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $6.00 to $1.00 in a research note on Thursday, November 14th.

Kronos Bio Trading Down 1.9 %

KRON opened at $0.99 on Friday. Kronos Bio has a twelve month low of $0.69 and a twelve month high of $1.60. The company has a fifty day moving average of $0.95 and a 200-day moving average of $1.02.

Institutional Trading of Kronos Bio

A hedge fund recently raised its stake in Kronos Bio stock. Forefront Analytics LLC grew its holdings in Kronos Bio, Inc. (NASDAQ:KRON) by 75.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,998 shares of the company’s stock after purchasing an additional 57,867 shares during the quarter. Forefront Analytics LLC owned about 0.22% of Kronos Bio worth $167,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 64.09% of the stock is owned by institutional investors and hedge funds.

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.