Short Interest in Kronos Bio, Inc. (NASDAQ:KRON) Grows By 8.2%

Kronos Bio, Inc. (NASDAQ:KRON) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 779,500 shares, a growth of 8.2% from the June 30th total of 720,200 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily volume of 510,700 shares, the days-to-cover ratio is presently 1.5 days.

Kronos Bio Stock Up 4.1 %

KRON stock traded up $0.05 during trading on Tuesday, hitting $1.28. The company had a trading volume of 39,865 shares, compared to its average volume of 359,566. The firm has a market capitalization of $76.92 million, a P/E ratio of -0.64 and a beta of 1.88. Kronos Bio has a 52-week low of $0.69 and a 52-week high of $2.09. The company has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.10.

Kronos Bio (NASDAQ:KRON) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The company had revenue of $2.52 million during the quarter, compared to analysts’ expectations of $1.50 million. Kronos Bio had a negative return on equity of 68.67% and a negative net margin of 1,534.11%. Sell-side analysts forecast that Kronos Bio will post -1.62 earnings per share for the current year.

Insider Buying and Selling at Kronos Bio

In other Kronos Bio news, CEO Norbert W. Bischofberger acquired 881,913 shares of the stock in a transaction on Wednesday, June 12th. The stock was acquired at an average price of $1.24 per share, for a total transaction of $1,093,572.12. Following the completion of the transaction, the chief executive officer now directly owns 7,375,616 shares of the company’s stock, valued at $9,145,763.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Norbert W. Bischofberger bought 881,913 shares of Kronos Bio stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average price of $1.24 per share, with a total value of $1,093,572.12. Following the completion of the purchase, the chief executive officer now owns 7,375,616 shares in the company, valued at approximately $9,145,763.84. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Norbert W. Bischofberger bought 1,378,901 shares of Kronos Bio stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $0.88 per share, for a total transaction of $1,213,432.88. Following the purchase, the chief executive officer now owns 5,749,395 shares of the company’s stock, valued at approximately $5,059,467.60. The disclosure for this purchase can be found here. Insiders acquired 2,671,662 shares of company stock worth $2,787,697 over the last 90 days. 23.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in 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. Acadian Asset Management LLC increased its position in Kronos Bio by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 774,559 shares of the company’s stock valued at $1,005,000 after purchasing an additional 113,618 shares during the period. Cerity Partners LLC purchased a new position in Kronos Bio during the 4th quarter valued at about $513,000. Marquette Asset Management LLC increased its position in Kronos Bio by 19.8% during the 1st quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock valued at $104,000 after purchasing an additional 13,269 shares during the period. Finally, Virtu Financial LLC purchased a new position in Kronos Bio during the 1st quarter valued at about $71,000. Hedge funds and other institutional investors own 64.09% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright reduced their target price on shares of Kronos Bio from $2.50 to $2.25 and set a “buy” rating on the stock in a research note on Friday, May 3rd.

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.