Kronos Bio (NASDAQ:KRON) Trading 8.5% Higher – Should You Buy?

Kronos Bio, Inc. (NASDAQ:KRON)’s stock price rose 8.5% during mid-day trading on Thursday . The company traded as high as $1.06 and last traded at $1.02. Approximately 1,344,509 shares changed hands during trading, an increase of 379% from the average daily volume of 280,457 shares. The stock had previously closed at $0.94.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Cowen lowered Kronos Bio from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $2.25 price objective on shares of Kronos Bio in a research note on Monday, August 19th. Finally, Piper Sandler downgraded shares of Kronos Bio from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $6.00 to $1.00 in a research note on Thursday, November 14th.

Kronos Bio Price Performance

The firm has a 50-day moving average of $0.94 and a 200 day moving average of $1.02. The company has a market capitalization of $61.55 million, a PE ratio of -0.71 and a beta of 1.83.

Institutional Trading of Kronos Bio

A number of large investors have recently made changes to their positions in the stock. Forefront Analytics LLC grew 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 worth $167,000 after acquiring an additional 57,867 shares during the period. Acadian Asset Management LLC boosted its position in Kronos Bio by 58.8% in the second 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 last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Kronos Bio by 14.6% during the 1st quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock valued at $2,533,000 after purchasing an additional 247,918 shares during the period. 64.09% of the stock is currently owned by institutional investors.

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.