Kronos Bio, Inc. (NASDAQ:KRON) Short Interest Update

Kronos Bio, Inc. (NASDAQ:KRON) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 577,700 shares, a growth of 16.5% from the December 15th total of 496,000 shares. Based on an average daily trading volume, of 255,900 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Kronos Bio Stock Down 1.9 %

Shares of NASDAQ:KRON opened at $0.99 on Friday. Kronos Bio has a 52-week low of $0.69 and a 52-week high of $1.60. The stock has a market cap of $59.77 million, a P/E ratio of -0.69 and a beta of 1.79. The business has a fifty day moving average of $0.95 and a two-hundred day moving average of $1.02.

Institutional Investors Weigh In On Kronos Bio

An institutional investor recently raised its position in Kronos Bio stock. Forefront Analytics LLC raised its position in Kronos Bio, Inc. (NASDAQ:KRON) by 75.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,998 shares of the company’s stock after purchasing an additional 57,867 shares during the quarter. Forefront Analytics LLC owned about 0.22% of Kronos Bio worth $167,000 as of its most recent SEC filing. 64.09% of the stock is currently owned by institutional investors and hedge funds.

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.