Kronos Bio, Inc. (NASDAQ:KRON - Get Free Report)'s share price rose 8.5% on Thursday . The company traded as high as $1.06 and last traded at $1.02. Approximately 1,344,509 shares changed hands during mid-day trading, an increase of 379% from the average daily volume of 280,457 shares. The stock had previously closed at $0.94.
Wall Street Analyst Weigh In
Several research firms have commented on KRON. TD Cowen lowered Kronos Bio from a "buy" rating to a "hold" rating in a research note on Thursday, November 14th. Piper Sandler cut Kronos Bio from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $6.00 to $1.00 in a research report on Thursday, November 14th. Finally, HC Wainwright restated a "buy" rating and issued a $2.25 price objective on shares of Kronos Bio in a report on Monday, August 19th.
Read Our Latest Analysis on Kronos Bio
Kronos Bio Stock Performance
The company has a market cap of $61.55 million, a PE ratio of -0.71 and a beta of 1.83. The firm's 50 day moving average is $0.94 and its 200-day moving average is $1.02.
Institutional Investors Weigh In On Kronos Bio
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Forefront Analytics LLC increased its position in 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 purchasing an additional 57,867 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Kronos Bio by 58.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,229,910 shares of the company's stock worth $1,524,000 after purchasing an additional 455,351 shares during the period. Virtu Financial LLC acquired a new stake in Kronos Bio in the 1st quarter valued at approximately $71,000. Finally, Vanguard Group Inc. lifted its stake in 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 in the last quarter. Institutional investors and hedge funds own 64.09% of the company's stock.
Kronos Bio Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Kronos Bio, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kronos Bio wasn't on the list.
While Kronos Bio currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock your free copy of MarketBeat's comprehensive guide to pot stock investing and discover which cannabis companies are poised for growth. Plus, you'll get exclusive access to our daily newsletter with expert stock recommendations from Wall Street's top analysts.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
