Kronos Bio (NASDAQ:KRON) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Kronos Bio (NASDAQ:KRON) in a research report released on Monday morning, Benzinga reports. The firm currently has a $2.25 price objective on the stock. HC Wainwright also issued estimates for Kronos Bio’s Q3 2024 earnings at ($0.29) EPS, Q4 2024 earnings at ($0.30) EPS, FY2024 earnings at ($1.36) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.31) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.33) EPS and FY2025 earnings at ($1.26) EPS.

Kronos Bio Stock Up 1.0 %

Shares of Kronos Bio stock opened at $1.01 on Monday. The firm has a market cap of $60.69 million, a PE ratio of -0.51 and a beta of 1.89. The business has a 50-day moving average price of $1.16 and a 200 day moving average price of $1.10. Kronos Bio has a twelve month low of $0.69 and a twelve month high of $1.60.

Kronos Bio (NASDAQ:KRON) last announced its earnings results 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 business had revenue of $2.69 million during the quarter, compared to the consensus estimate of $1.75 million. Kronos Bio had a negative return on equity of 68.67% and a negative net margin of 1,534.11%. On average, sell-side analysts expect that Kronos Bio will post -1.62 EPS for the current year.

Insider Activity

In related news, CEO Norbert W. Bischofberger purchased 1,378,901 shares of Kronos Bio stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $0.88 per share, for a total transaction of $1,213,432.88. Following the transaction, the chief executive officer now directly owns 5,749,395 shares in the company, valued at $5,059,467.60. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Norbert W. Bischofberger acquired 410,848 shares of the stock in a transaction on Thursday, June 27th. The shares were bought at an average price of $1.17 per share, with a total value of $480,692.16. Following the completion of the purchase, the chief executive officer now owns 10,597,468 shares of the company’s stock, valued at approximately $12,399,037.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Norbert W. Bischofberger acquired 1,378,901 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $0.88 per share, with a total value of $1,213,432.88. Following the acquisition, the chief executive officer now directly 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 have purchased a total of 2,671,662 shares of company stock worth $2,787,697 over the last 90 days. 23.40% of the stock is currently owned by company insiders.

Institutional Trading of Kronos Bio

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Kronos Bio by 14.6% during the first quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock worth $2,533,000 after acquiring an additional 247,918 shares during the last quarter. Acadian Asset Management LLC lifted its position in Kronos Bio by 58.8% in the second quarter. Acadian Asset Management LLC now owns 1,229,910 shares of the company’s stock valued at $1,524,000 after buying an additional 455,351 shares during the last quarter. Cerity Partners LLC purchased a new position in Kronos Bio during the fourth quarter worth about $513,000. Forefront Analytics LLC increased its position in shares of 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. Finally, Marquette Asset Management LLC raised its stake in shares of Kronos Bio by 19.8% in the 1st 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 period. 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.