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

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

Analyst Ratings Changes

Several research firms have recently commented on KRON. TD Cowen downgraded Kronos Bio from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Piper Sandler downgraded Kronos Bio from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $6.00 to $1.00 in a research note on Thursday, November 14th.

Kronos Bio Stock Performance

The company has a market capitalization of $55.77 million, a P/E ratio of -0.65 and a beta of 1.79. The firm’s fifty day moving average is $0.99 and its 200 day moving average is $0.97.

Institutional Investors Weigh In On Kronos Bio

A number of hedge funds have recently made changes to their positions in KRON. Kennedy Capital Management LLC raised its stake in Kronos Bio by 8.7% in the fourth quarter. Kennedy Capital Management LLC now owns 149,251 shares of the company’s stock valued at $142,000 after buying an additional 12,007 shares during the last quarter. Velan Capital Investment Management LP acquired a new stake in Kronos Bio during the 4th quarter valued at approximately $33,000. GTS Securities LLC purchased a new stake in shares of Kronos Bio in the 4th quarter valued at $48,000. Squarepoint Ops LLC purchased a new position in shares of Kronos Bio during the fourth quarter worth $93,000. Finally, Gilead Sciences Inc. acquired a new stake in Kronos Bio during the 4th quarter worth about $179,000. 64.09% of the stock is currently owned by hedge funds and other institutional investors.

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.