Kronos Bio (NASDAQ:KRON) Stock Rating Lowered by Piper Sandler

Piper Sandler downgraded shares of Kronos Bio (NASDAQ:KRON) from an overweight rating to a neutral rating in a research report released on Thursday, Marketbeat Ratings reports. The firm currently has $1.00 target price on the stock, down from their prior target price of $6.00.

KRON has been the topic of several other research reports. TD Cowen cut Kronos Bio from a “buy” rating to a “hold” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $2.25 price target on shares of Kronos Bio in a research report on Monday, August 19th.

Kronos Bio Stock Performance

KRON opened at $0.85 on Thursday. The company has a market capitalization of $51.29 million, a P/E ratio of -0.59 and a beta of 1.86. The company has a 50-day moving average of $0.95 and a 200-day moving average of $1.03. Kronos Bio has a 1-year low of $0.69 and a 1-year high of $1.60.

Hedge Funds Weigh In On Kronos Bio

Large investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of Kronos Bio during the first quarter valued at approximately $71,000. Forefront Analytics LLC boosted its position in Kronos Bio by 75.0% during the 2nd 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 during the period. Acadian Asset Management LLC grew its stake in Kronos Bio by 17.2% during the 1st 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 last quarter. Finally, Vanguard Group Inc. increased its position in Kronos Bio by 14.6% in 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 during the period. 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.