Kronos Bio (NASDAQ:KRON) Earns Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Kronos Bio (NASDAQ:KRON) in a research report sent to investors on Tuesday morning, Benzinga reports. Piper Sandler currently has a $6.00 target price on the stock.

Separately, HC Wainwright reiterated a buy rating and set a $2.25 target price on shares of Kronos Bio in a report on Monday, August 19th.

Kronos Bio Stock Up 3.7 %

Shares of KRON stock opened at $0.98 on Tuesday. The stock has a 50-day moving average of $1.00 and a 200-day moving average of $1.06. Kronos Bio has a one year low of $0.69 and a one year high of $1.60.

Kronos Bio (NASDAQ:KRON) last issued its earnings results on Thursday, August 8th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.05. The firm had revenue of $2.69 million during the quarter, compared to the consensus estimate of $1.75 million. Kronos Bio had a negative net margin of 1,222.83% and a negative return on equity of 68.82%. As a group, research analysts expect that Kronos Bio will post -1.33 EPS for the current year.

Institutional Investors Weigh In On Kronos Bio

Large investors have recently made changes to their positions in the stock. Marquette Asset Management LLC lifted its position in Kronos Bio by 19.8% in the 1st quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock valued at $104,000 after acquiring an additional 13,269 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Kronos Bio in the 1st quarter valued at about $71,000. Forefront Analytics LLC lifted its holdings in shares of Kronos Bio by 75.0% in the second quarter. Forefront Analytics LLC now owns 134,998 shares of the company’s stock valued at $167,000 after purchasing an additional 57,867 shares in the last quarter. Acadian Asset Management LLC boosted its position 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 worth $1,005,000 after buying an additional 113,618 shares during the period. 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 worth $2,533,000 after buying an additional 247,918 shares in the last quarter. Institutional investors 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.