Kronos Bio (NASDAQ:KRON) Stock Price Down 1.8% - Time to Sell?

Shares of Kronos Bio, Inc. (NASDAQ:KRON - Get Free Report) traded down 1.8% during trading on Tuesday . The company traded as low as $0.90 and last traded at $0.95. 337,890 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 285,876 shares. The stock had previously closed at $0.97.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KRON. Piper Sandler lowered shares of Kronos Bio from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $6.00 to $1.00 in a report on Thursday, November 14th. TD Cowen cut Kronos Bio from a "buy" rating to a "hold" rating in a research note on Thursday, November 14th.

Kronos Bio Stock Down 1.8 %

The company's fifty day moving average price is $0.94 and its two-hundred day moving average price is $1.03. The company has a market cap of $57.32 million, a price-to-earnings ratio of -0.66 and a beta of 1.83.

Institutional Trading of Kronos Bio

A hedge fund recently raised its stake in Kronos Bio stock. Acadian Asset Management LLC increased its holdings in shares of Kronos Bio, Inc. (NASDAQ:KRON - Free Report) by 58.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,229,910 shares of the company's stock after purchasing an additional 455,351 shares during the quarter. Acadian Asset Management LLC owned approximately 2.05% of Kronos Bio worth $1,524,000 as of its most recent SEC filing. 64.09% of the stock is currently 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.