Short Interest in Kronos Bio, Inc. (NASDAQ:KRON) Decreases By 13.4%

Kronos Bio, Inc. (NASDAQ:KRON) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 748,000 shares, a decline 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 currently 3.2 days. Approximately 1.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KRON. Renaissance Technologies LLC boosted its holdings in shares of Kronos Bio by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,171,808 shares of the company’s stock worth $1,113,000 after buying an additional 192,754 shares during the period. Tang Capital Management LLC bought a new position in Kronos Bio during the fourth quarter valued at about $953,000. Peapod Lane Capital LLC bought a new position in Kronos Bio during the fourth quarter valued at about $534,000. Deltec Asset Management LLC bought a new stake in shares of Kronos Bio in the 4th quarter worth approximately $190,000. Finally, Gilead Sciences Inc. acquired a new stake in shares of Kronos Bio during the 4th quarter worth approximately $179,000. Institutional investors own 64.09% of the company’s stock.

Kronos Bio Price Performance

NASDAQ:KRON remained flat at $0.84 during trading hours on Thursday. 7,815 shares of the company were exchanged, compared to its average volume of 268,543. Kronos Bio has a 1 year low of $0.69 and a 1 year high of $1.60. The stock has a 50 day moving average price of $0.95 and a 200-day moving average price of $0.95. The stock has a market cap of $50.97 million, a P/E ratio of -0.58 and a beta of 1.79.

Kronos Bio (NASDAQ:KRON) last issued 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 analysts’ expectations of $1.00 million. Kronos Bio had a negative net margin of 867.66% and a negative return on equity of 64.55%. On average, sell-side analysts forecast that Kronos Bio will post -1.36 EPS for the current year.

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.