Kronos Bio (NASDAQ:KRON) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Kronos Bio (NASDAQ:KRON) in a research report sent to investors on Thursday morning, Benzinga reports. HC Wainwright currently has a $2.25 target price on the stock. HC Wainwright also issued estimates for Kronos Bio’s FY2025 earnings at ($1.44) EPS.

Kronos Bio Trading Down 5.4 %

Kronos Bio stock traded down $0.07 during mid-day trading on Thursday, reaching $1.22. The company had a trading volume of 76,755 shares, compared to its average volume of 354,028. Kronos Bio has a fifty-two week low of $0.69 and a fifty-two week high of $1.82. The company has a market cap of $73.31 million, a P/E ratio of -0.65 and a beta of 1.88. The business has a fifty day simple moving average of $1.10 and a 200 day simple moving average of $1.10.

Kronos Bio (NASDAQ:KRON) last issued its earnings results on Thursday, May 9th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The company had revenue of $2.52 million during the quarter, compared to analyst estimates of $1.50 million. Kronos Bio had a negative net margin of 1,534.11% and a negative return on equity of 68.67%. Research analysts forecast that Kronos Bio will post -1.62 EPS for the current year.

Insider Activity

In other Kronos Bio news, CEO Norbert W. Bischofberger purchased 410,848 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was purchased at an average price of $1.17 per share, with a total value of $480,692.16. Following the completion of the purchase, the chief executive officer now owns 10,597,468 shares of the company’s stock, valued at $12,399,037.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Norbert W. Bischofberger purchased 881,913 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was purchased at an average cost of $1.24 per share, with a total value of $1,093,572.12. Following the completion of the purchase, the chief executive officer now owns 7,375,616 shares in the company, valued at approximately $9,145,763.84. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Norbert W. Bischofberger purchased 410,848 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was bought at an average cost of $1.17 per share, with a total value of $480,692.16. Following the completion of the purchase, the chief executive officer now owns 10,597,468 shares of the company’s stock, valued at approximately $12,399,037.56. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 2,671,662 shares of company stock valued at $2,787,697. Insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On Kronos Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of Kronos Bio during the first quarter valued at about $71,000. Marquette Asset Management LLC grew its holdings in shares of Kronos Bio by 19.8% during the first quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock valued at $104,000 after buying an additional 13,269 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Kronos Bio during the fourth quarter valued at about $513,000. Acadian Asset Management LLC grew its holdings in shares of Kronos Bio by 17.2% during the first quarter. Acadian Asset Management LLC now owns 774,559 shares of the company’s stock valued at $1,005,000 after buying an additional 113,618 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 valued at $2,533,000 after buying an additional 247,918 shares during 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.