Kronos Bio (NASDAQ:KRON) Trading Down 1% – What’s Next?

Kronos Bio, Inc. (NASDAQ:KRON)’s share price traded down 1% on Monday . The company traded as low as $0.91 and last traded at $0.95. 238,983 shares were traded during mid-day trading, an increase of 15% from the average session volume of 207,575 shares. The stock had previously closed at $0.96.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KRON shares. TD Cowen downgraded Kronos Bio from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Piper Sandler cut shares of Kronos Bio from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $6.00 to $1.00 in a research report on Thursday, November 14th.

Kronos Bio Stock Performance

The company has a 50 day moving average of $0.99 and a 200 day moving average of $0.97. The stock has a market capitalization of $55.77 million, a price-to-earnings ratio of -0.65 and a beta of 1.79.

Institutional Trading of Kronos Bio

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of Kronos Bio by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,171,808 shares of the company’s stock valued at $1,113,000 after purchasing an additional 192,754 shares during the last quarter. Tang Capital Management LLC acquired a new stake in Kronos Bio during the fourth quarter worth about $953,000. Peapod Lane Capital LLC acquired a new stake in Kronos Bio during the fourth quarter worth about $534,000. Deltec Asset Management LLC acquired a new stake in shares of Kronos Bio during 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 and hedge funds 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.