Kronos Bio (NASDAQ:KRON) Downgraded by Piper Sandler to Neutral

Piper Sandler downgraded shares of Kronos Bio (NASDAQ:KRON) from an overweight rating to a neutral rating in a research note published on Thursday morning, MarketBeat Ratings reports. They currently have $1.00 price objective on the stock, down from their prior price objective of $6.00.

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

Kronos Bio Stock Performance

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

Institutional Trading of Kronos Bio

A number of hedge funds have recently made changes to their positions in KRON. Virtu Financial LLC purchased a new position in shares of Kronos Bio in the first quarter valued at $71,000. Forefront Analytics LLC boosted its position in Kronos Bio by 75.0% in the 2nd quarter. Forefront Analytics LLC now owns 134,998 shares of the company’s stock valued at $167,000 after buying an additional 57,867 shares during the last quarter. Acadian Asset Management LLC grew its stake 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 valued at $1,005,000 after acquiring an additional 113,618 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake 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 valued at $2,533,000 after acquiring an additional 247,918 shares in the last quarter. Hedge funds and other institutional investors own 64.09% of the company’s stock.

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.