Kronos Bio (NASDAQ:KRON) Lowered to Hold Rating by TD Cowen

TD Cowen cut shares of Kronos Bio (NASDAQ:KRON) from a buy rating to a hold rating in a research note issued to investors on Thursday, MarketBeat reports.

A number of other research firms have also weighed in on KRON. HC Wainwright restated a “buy” rating and set a $2.25 target price on shares of Kronos Bio in a research note on Monday, August 19th. Piper Sandler restated an “overweight” rating and issued a $6.00 price objective on shares of Kronos Bio in a report on Tuesday, October 8th.

Kronos Bio Trading Down 0.1 %

Shares of NASDAQ KRON opened at $0.85 on Thursday. Kronos Bio has a 12-month low of $0.69 and a 12-month high of $1.60. The stock has a market cap of $51.29 million, a P/E ratio of -0.59 and a beta of 1.86. The business’s fifty day simple moving average is $0.95 and its 200-day simple moving average is $1.03.

Institutional Investors Weigh In On Kronos Bio

Several institutional investors have recently added to or reduced their stakes in KRON. Vanguard Group Inc. increased its stake in Kronos Bio by 14.6% in the first 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. Acadian Asset Management LLC grew its position in shares of Kronos Bio by 58.8% in the 2nd 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. Forefront Analytics LLC raised its stake in Kronos Bio by 75.0% during the 2nd quarter. Forefront Analytics LLC now owns 134,998 shares of the company’s stock worth $167,000 after acquiring an additional 57,867 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Kronos Bio in the first quarter valued at $71,000. 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.