Kronos Bio (NASDAQ:KRON) Rating Lowered to “Neutral” at Piper Sandler

Kronos Bio (NASDAQ:KRON) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued on Thursday,Briefing.com Automated Import reports. They currently have a $1.00 target price on the stock, down from their previous target price of $6.00. Piper Sandler’s target price indicates a potential upside of 13.62% from the stock’s current price.

Several other research firms have also commented on KRON. 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 research report on Monday, August 19th.

Kronos Bio Price Performance

KRON stock opened at $0.88 on Thursday. The company’s 50 day simple moving average is $0.95 and its 200-day simple moving average is $1.03. The firm has a market capitalization of $53.06 million, a PE ratio of -0.51 and a beta of 1.86. Kronos Bio has a 12 month low of $0.69 and a 12 month high of $1.60.

Institutional Trading of Kronos Bio

A number of hedge funds have recently bought and sold shares of the company. Forefront Analytics LLC boosted its position in Kronos Bio by 75.0% during 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 last quarter. Acadian Asset Management LLC boosted its position in Kronos Bio by 58.8% during the second quarter. Acadian Asset Management LLC now owns 1,229,910 shares of the company’s stock worth $1,524,000 after acquiring an additional 455,351 shares during the last quarter. Virtu Financial LLC acquired a new stake in Kronos Bio during the first quarter worth approximately $71,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Kronos Bio by 14.6% in 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 last quarter. Institutional investors and hedge funds 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.