Kronos Bio, Inc. (NASDAQ:KRON) Short Interest Up 7.7% in August

Kronos Bio, Inc. (NASDAQ:KRON) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 758,500 shares, a growth of 7.7% from the August 15th total of 704,500 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average trading volume of 298,900 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Ratings Changes

Separately, HC Wainwright reiterated 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 stock opened at $0.95 on Tuesday. The company’s 50 day moving average is $1.13 and its 200 day moving average is $1.09. The stock has a market cap of $57.20 million, a price-to-earnings ratio of -0.48 and a beta of 1.87. Kronos Bio has a 1-year low of $0.69 and a 1-year high of $1.60.

Kronos Bio (NASDAQ:KRON) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.05. The company had revenue of $2.69 million for the quarter, compared to analysts’ expectations of $1.75 million. Kronos Bio had a negative net margin of 1,222.83% and a negative return on equity of 68.82%. As a group, sell-side analysts forecast that Kronos Bio will post -1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kronos Bio news, CEO Norbert W. Bischofberger acquired 410,848 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were acquired at an average cost of $1.17 per share, with a total value of $480,692.16. Following the completion of the acquisition, the chief executive officer now directly owns 10,597,468 shares in the company, valued at $12,399,037.56. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 23.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in 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 during the last quarter. Acadian Asset Management LLC grew 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 valued at $1,524,000 after acquiring an additional 455,351 shares during the last quarter. Forefront Analytics LLC grew 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 valued at $167,000 after acquiring an additional 57,867 shares during the last quarter. Marquette Asset Management LLC grew its position in Kronos Bio by 19.8% during the first quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock valued at $104,000 after acquiring an additional 13,269 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Kronos Bio during the first quarter valued at approximately $71,000. 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.